Corning Incorporated $GLW Stake Reduced by Anchor Investment Management LLC

Key Points

• Anchor Investment Management cut its Corning stake by 5.9% in the fourth quarter, selling 5,207 shares and leaving it with 83,411 shares worth about $7.3 million.
• Corning reported better-than-expected Q1 results, with EPS of $0.70 versus $0.69 expected and revenue of $4.34 billion, up 18.1% year over year. The company also guided Q2 2026 EPS to $0.73-$0.77.
• The company announced a quarterly dividend of $0.28 per share, payable June 29, implying a $1.12 annualized payout and a yield of about 0.6%.

Anchor Investment Management LLC trimmed its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 5.9% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 83,411 shares of the electronics maker's stock after selling 5,207 shares during the quarter. Anchor Investment Management LLC's holdings in Corning were worth $7,303,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in GLW. Brighton Jones LLC increased its position in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock worth $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Corning during the 1st quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock valued at $2,962,000 after buying an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Corning in the 2nd quarter valued at approximately $401,000. Finally, Schnieders Capital Management LLC. bought a new position in shares of Corning in the second quarter valued at approximately $266,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Transactions at Corning

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares of the company's stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Corning Trading Up 11.3%

Shares of Corning stock opened at $195.28 on Friday. Corning Incorporated has a 12-month low of $49.97 and a 12-month high of $211.79. The stock has a market capitalization of $168.06 billion, a P/E ratio of 93.44, a price-to-earnings-growth ratio of 2.51 and a beta of 1.15. The company has a 50-day simple moving average of $180.02 and a 200 day simple moving average of $136.84. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the business earned $0.54 earnings per share. The company's revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on GLW shares. Oppenheimer increased their price objective on Corning from $120.00 to $210.00 and gave the company an "outperform" rating in a research report on Thursday, May 7th. Barclays lifted their price target on shares of Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Zacks Research downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. upped their target price on shares of Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Finally, Wall Street Zen cut shares of Corning from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $178.31.

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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