Corning Incorporated $GLW Shares Sold by Kera Capital Partners Inc.

Key Points

• Kera Capital Partners cut its Corning stake by 7.9% in the first quarter, selling 12,218 shares and leaving it with 142,536 shares valued at about $19.4 million. Corning remains its fifth-largest holding.
• Insider selling has been notable, with SVP Michaune D. Tillman and VP John Z. Zhang both selling shares, while insiders have sold 160,655 shares worth about $30.7 million over the past 90 days.
• Corning beat quarterly expectations with EPS of $0.70 on revenue of $4.34 billion, and it also announced a quarterly dividend of $0.28 per share. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and a price target of $194.69.

Kera Capital Partners Inc. lowered its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 7.9% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,536 shares of the electronics maker's stock after selling 12,218 shares during the quarter. Corning accounts for about 2.4% of Kera Capital Partners Inc.'s portfolio, making the stock its 5th largest position. Kera Capital Partners Inc.'s holdings in Corning were worth $19,381,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Beirne Wealth Consulting Services LLC increased its holdings in Corning by 0.8% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock worth $1,094,000 after purchasing an additional 64 shares during the period. Millstone Evans Group LLC raised its position in Corning by 1.3% in the 1st quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker's stock valued at $733,000 after purchasing an additional 67 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in shares of Corning by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker's stock valued at $623,000 after buying an additional 70 shares during the period. Caldwell Trust Co boosted its stake in shares of Corning by 0.5% in the 1st quarter. Caldwell Trust Co now owns 15,893 shares of the electronics maker's stock valued at $2,161,000 after buying an additional 74 shares during the period. Finally, KRS Capital Management LLC grew its position in shares of Corning by 2.2% during the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker's stock worth $552,000 after buying an additional 88 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Michaune D. Tillman sold 3,260 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by company insiders.

Corning Trading Down 2.5%

Shares of Corning stock opened at $154.47 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a 1 year low of $53.29 and a 1 year high of $271.78. The company's fifty day moving average is $192.81 and its two-hundred day moving average is $152.85. The company has a market capitalization of $132.94 billion, a P/E ratio of 73.91, a PEG ratio of 2.08 and a beta of 1.09.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning's payout ratio is presently 53.59%.

Analysts Set New Price Targets

GLW has been the subject of a number of recent research reports. Bank of America lifted their price target on shares of Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Citigroup raised their price objective on shares of Corning from $225.00 to $240.00 and gave the company a "buy" rating in a report on Monday. Susquehanna lifted their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a research report on Wednesday, April 29th. Morgan Stanley set a $180.00 price objective on shares of Corning in a research report on Friday, May 8th. Finally, UBS Group set a $243.00 target price on shares of Corning in a research note on Monday, July 6th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $194.69.

Corning Company Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.

Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.