Corning Incorporated $GLW Stock Holdings Lowered by Genus Capital Management Inc.

Key Points

• Genus Capital Management cut its Corning stake by 14.7% in the fourth quarter, selling 33,534 shares and leaving it with 194,139 shares worth about $17.0 million.
• Corning reported better-than-expected quarterly results, with EPS of $0.70 versus estimates of $0.69 and revenue of $4.35 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, and analysts remain broadly positive with a Moderate Buy consensus and an average target price of $177.92.

Genus Capital Management Inc. reduced its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 14.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 194,139 shares of the electronics maker's stock after selling 33,534 shares during the quarter. Corning accounts for approximately 2.0% of Genus Capital Management Inc.'s holdings, making the stock its 7th largest holding. Genus Capital Management Inc.'s holdings in Corning were worth $16,999,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

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 transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the business's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the transaction, the chief executive officer owned 750,585 shares of the company's stock, valued at $116,618,391.45. This trade represents a 15.48% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 170,774 shares of company stock worth $28,148,435. Insiders own 0.25% of the company's stock.

Corning Trading Down 0.1%

Shares of GLW stock opened at $193.83 on Monday. 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 $47.67 and a 1 year high of $211.79. The stock has a fifty day moving average of $161.56 and a two-hundred day moving average of $123.26. The firm has a market capitalization of $166.82 billion, a PE ratio of 92.74, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (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 company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the firm posted $0.54 EPS. The firm's quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

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

Analyst Ratings Changes

GLW has been the subject of several research reports. Zacks Research upgraded Corning from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Mizuho lifted their target price on Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 12th. Barclays boosted their price objective on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Weiss Ratings restated a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. Finally, Fox Advisors lowered Corning from an "overweight" rating to an "equal weight" rating in a research report on Thursday, January 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $177.92.

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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