Dimensional Fund Advisors LP Has $576.91 Million Stock Holdings in Corning Incorporated $GLW

Key Points

• Dimensional Fund Advisors cut its Corning stake by 30.5% in Q1, but still held 4.24 million shares worth about $576.9 million at the end of the period.
• Several analysts turned more constructive on Corning, with Citigroup and Bank of America raising price targets; the stock now has a consensus “Moderate Buy” rating and an average target of $194.69.
• Corning reported strong quarterly results, beating EPS and revenue estimates, and it also announced a quarterly dividend of $0.28 per share to be paid on Sept. 29.

Dimensional Fund Advisors LP trimmed its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 30.5% in the first quarter, according to its most recent filing with the SEC. The firm owned 4,244,624 shares of the electronics maker's stock after selling 1,865,601 shares during the period. Dimensional Fund Advisors LP owned approximately 0.49% of Corning worth $576,911,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Berbice Capital Management LLC bought a new position in Corning during the fourth quarter worth about $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the 4th quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning in the 4th quarter valued at approximately $27,000. Litman Gregory Wealth Management LLC acquired a new position in shares of Corning in the 4th quarter worth approximately $31,000. Finally, Evolution Wealth Management Inc. raised its holdings in shares of Corning by 58.8% in the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker's stock worth $33,000 after buying an additional 141 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the firm'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 completion of the sale, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company's stock, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent analyst reports. Citigroup boosted their price target on Corning from $225.00 to $240.00 and gave the company a "buy" rating in a research note on Monday, July 13th. Truist Financial increased their price objective on Corning from $149.00 to $205.00 and gave the stock a "hold" rating in a research note on Monday, June 22nd. Bank of America lifted their price objective on Corning from $223.00 to $243.00 and gave the company a "buy" rating in a report on Monday, July 6th. JPMorgan Chase & Co. boosted 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 raised shares of Corning from a "hold" rating to a "buy" rating in a report on Saturday. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Corning currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.69.

Corning Stock Performance

NYSE:GLW opened at $152.97 on Tuesday. The stock has a market capitalization of $131.65 billion, a P/E ratio of 73.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1 year low of $53.29 and a 1 year high of $271.78. The firm has a 50 day moving average of $191.73 and a 200-day moving average of $153.75.

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, 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 business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company earned $0.54 EPS. Corning'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. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued 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 Monday, August 31st. Corning's dividend payout ratio is presently 53.59%.

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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