Corning Incorporated $GLW Stock Position Reduced by CoreCap Advisors LLC

Key Points

• CoreCap Advisors reduced its Corning position by 22.6% in the third quarter, selling 11,594 shares and retaining 39,721 shares valued at approximately $6.1 million.
• Institutional investors still hold a substantial 69.8% of Corning’s stock, with State Street, Bank of America and Wellington Management increasing their positions during the second quarter.
• Corning’s outlook remains generally positive, supported by AI-related data-center demand and analyst price-target increases, though elevated valuation, insider selling and a law-firm investigation add risks. Analysts have a “Moderate Buy” consensus rating and an average price target of $174.87.

CoreCap Advisors LLC trimmed its position in Corning Incorporated (NYSE:GLW - Free Report) by 22.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 39,721 shares of the electronics maker's stock after selling 11,594 shares during the quarter. CoreCap Advisors LLC's holdings in Corning were worth $6,108,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GLW. State Street Corp raised its position in Corning by 13.4% in the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker's stock valued at $10,500,315,000 after purchasing an additional 4,845,027 shares during the period. Bank of America Corp DE boosted its stake in Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker's stock worth $4,784,361,000 after buying an additional 4,231,507 shares during the period. Wellington Management Group LLP increased its position in shares of Corning by 50.9% during the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker's stock valued at $3,365,084,000 after acquiring an additional 4,446,514 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in shares of Corning in the 2nd quarter valued at approximately $1,510,911,000. Finally, Legal & General Group Plc acquired a new stake in Corning in the 2nd quarter valued at approximately $1,212,283,000. Institutional investors and hedge funds own 69.80% of the company's stock.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Analysts continue to identify Corning as a potential beneficiary of AI-driven data-center investment. Demand for optical connectivity components is supporting growth, expanding backlogs and additional upside potential. Zacks AI communication component rally article
• Positive Sentiment: Truist raised its price target for Corning from $175 to $182, signaling continued confidence in the company’s outlook. Truist raises Corning price target
• Positive Sentiment: Corning declared a quarterly dividend of $0.28 per share, payable December 11 to shareholders of record November 13. The dividend maintains the company’s shareholder-return program, although its annualized yield is modest at approximately 0.7%. Corning quarterly dividend announcement
• Neutral Sentiment: Recent analysis highlights Corning’s optical-fiber capacity expansion, major data-center agreements and strong solar-related sales. These growth opportunities are balanced by an elevated valuation and the risk that profit growth may not keep pace with expectations. Zacks Corning outlook article
• Negative Sentiment: Pomerantz LLP said it is investigating potential claims on behalf of Corning investors. The announcement could create legal and reputational uncertainty and appears to be the most immediate negative headline for GLW. Pomerantz Corning investor investigation

Corning Stock Performance

Shares of GLW stock opened at $152.81 on Friday. The company has a market cap of $131.63 billion, a P/E ratio of 69.78, a PEG ratio of 2.08 and a beta of 1.13. The firm has a fifty day moving average price of $155.41 and a 200 day moving average price of $168.64. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $77.39 and a 12 month high of $271.78.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business's quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts predict that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, November 13th. Corning's payout ratio is currently 51.14%.

Insider Buying and Selling at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares in the company, valued at $2,277,217.08. This trade represents a 46.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

GLW has been the topic of a number of research reports. Truist Financial upped their price target on Corning from $175.00 to $182.00 and gave the stock a "buy" rating in a research note on Friday, October 2nd. Bank of America boosted 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. Oppenheimer lowered their price objective on shares of Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. UBS Group lifted their price objective on shares of Corning from $196.00 to $201.00 and gave the company a "buy" rating in a report on Monday. Finally, Morgan Stanley decreased their price target on shares of Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 29th. Twelve investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus target price of $174.87.

About Corning

Corning Incorporated NYSE: GLW is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.

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