Corning Incorporated $GLW Stock Holdings Decreased by OMERS ADMINISTRATION Corp

Key Points

• OMERS ADMINISTRATION Corp reduced its Corning stake by 7.9% in the first quarter, selling 14,848 shares and ending with 174,274 shares valued at about $23.7 million.
• Corning shares were down 6.1% in Friday trading, with the stock opening at $146.57 and remaining below its 50-day moving average.
• The company beat quarterly expectations with Q1 EPS of $0.70 on revenue of $4.34 billion, and it also announced a quarterly dividend of $0.28 per share, payable September 29.

OMERS ADMINISTRATION Corp lessened its stake in Corning Incorporated (NYSE:GLW - Free Report) by 7.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 174,274 shares of the electronics maker's stock after selling 14,848 shares during the quarter. OMERS ADMINISTRATION Corp's holdings in Corning were worth $23,696,000 as of its most recent filing with the SEC.

Other large investors have also modified their holdings of the company. Signature Equity Partners LLC grew its stake in Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock worth $52,000 after purchasing an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC raised its stake in Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock valued at $1,094,000 after buying an additional 64 shares in the last quarter. Balefire LLC lifted its holdings in Corning by 0.7% during the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock worth $1,305,000 after buying an additional 65 shares during the last quarter. Millstone Evans Group LLC lifted its holdings in Corning by 1.3% during the 1st quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker's stock worth $733,000 after buying an additional 67 shares during the last quarter. Finally, Geneos Wealth Management Inc. grew its position 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 worth $623,000 after acquiring an additional 70 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Corning Trading Down 6.1%

NYSE:GLW opened at $146.57 on Friday. Corning Incorporated has a 12-month low of $54.89 and a 12-month high of $271.78. The firm has a market capitalization of $126.14 billion, a P/E ratio of 70.13, a P/E/G ratio of 1.93 and a beta of 1.09. 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 business has a 50 day simple moving average of $188.01 and a 200 day simple moving average of $155.14.

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

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning's dividend payout ratio is currently 53.59%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on GLW shares. Oppenheimer boosted their price target on Corning from $210.00 to $230.00 and gave the company an "outperform" rating in a report on Tuesday, July 7th. Morgan Stanley set a $180.00 price objective on Corning in a research note on Friday, May 8th. Bank of America lifted their price objective on shares of Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Wall Street Zen upgraded shares of Corning from a "hold" rating to a "buy" rating in a research note on Saturday, July 18th. Finally, Zacks Research cut shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, Corning presently has a consensus rating of "Moderate Buy" and an average price target of $194.69.

Insiders Place Their Bets

In related news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares of the company's stock, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the sale, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Corning 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.

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