Corning Incorporated $GLW Shares Sold by Savant Capital LLC

Key Points

• Savant Capital LLC cut its Corning stake by 65.8% in the fourth quarter, leaving it with 30,474 shares worth about $2.67 million.
• Several Corning insiders sold shares, including SVPs Soumya Seetharam and Michaune D. Tillman; insiders have sold 60,655 shares worth about $12.0 million over the last 90 days.
• Corning reported solid quarterly results, with EPS of $0.70 and revenue of $4.35 billion, both slightly ahead of expectations, and the company also raised attention with a quarterly dividend of $0.28 per share.

Savant Capital LLC lessened its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 65.8% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 30,474 shares of the electronics maker's stock after selling 58,667 shares during the period. Savant Capital LLC's holdings in Corning were worth $2,668,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Berbice Capital Management LLC acquired a new position in shares of Corning during the 4th quarter worth about $26,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning during the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new stake in Corning during the 3rd quarter valued at about $27,000. Cornerstone Planning Group LLC grew its stake in Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock valued at $30,000 after acquiring an additional 124 shares in the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Corning during the 4th quarter valued at about $35,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Activity

In other news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president owned 25,570 shares of the company's stock, valued at $5,273,301.10. This represents a 43.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were 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 directly owned 10,174 shares of the company's stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 60,655 shares of company stock worth $12,046,561. Corporate insiders own 0.25% of the company's stock.

Corning Stock Performance

Corning stock opened at $181.37 on Monday. The firm has a 50 day simple moving average of $167.47 and a 200-day simple moving average of $126.87. Corning Incorporated has a 1-year low of $48.88 and a 1-year high of $211.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market cap of $156.09 billion, a price-to-earnings ratio of 86.78, a price-to-earnings-growth ratio of 2.59 and a beta of 1.15.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the prior year, the company posted $0.54 EPS. The business's revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning's dividend payout ratio is 53.59%.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GLW. Wall Street Zen raised shares of Corning from a "hold" rating to a "buy" rating in a research note on Sunday, May 17th. Citigroup upped their price objective on shares of Corning from $175.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. HSBC reaffirmed a "buy" rating and set a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. UBS Group upped their price objective on shares of Corning from $179.00 to $223.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Finally, Morgan Stanley set a $180.00 price objective on shares of Corning in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, Corning presently has a consensus rating of "Moderate Buy" and an average price target of $177.92.

About Corning

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.

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