Empowered Funds LLC Sells 23,409 Shares of Corning Incorporated $GLW

Empowered Funds LLC cut its stake in Corning Incorporated (NYSE:GLW - Free Report) by 18.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 100,245 shares of the electronics maker's stock after selling 23,409 shares during the period. Empowered Funds LLC's holdings in Corning were worth $13,630,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Berbice Capital Management LLC acquired a new position in Corning during the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the 4th quarter worth about $26,000. MBM Wealth Consultants LLC bought a new stake in shares of Corning in the 1st quarter worth about $42,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Corning during the 4th quarter worth about $27,000. Finally, IMG Wealth Management Inc. acquired a new stake in shares of Corning during the 1st quarter worth about $43,000. Institutional investors own 69.80% of the company's stock.

Insider Buying and Selling at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the business's stock in a transaction dated 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 directly 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the company's 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 completion of the sale, the senior vice president directly owned 94,400 shares of the company's stock, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last quarter. 0.25% of the stock is owned by corporate insiders.

Corning Trading Down 1.5%

Shares of NYSE GLW opened at $124.06 on Thursday. The company's 50 day simple moving average is $185.16 and its 200 day simple moving average is $156.53. Corning Incorporated has a fifty-two week low of $61.44 and a fifty-two week high of $271.78. The firm has a market capitalization of $106.77 billion, a P/E ratio of 56.65, a P/E/G ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.06.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts predict that Corning Incorporated will post 3.18 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. Corning's payout ratio is 53.59%.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Truist Financial boosted their price target on shares of Corning from $149.00 to $205.00 and gave the company a "hold" rating in a research report on Monday, June 22nd. Wall Street Zen raised shares of Corning from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Weiss Ratings cut shares of Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, July 24th. Bank of America boosted their target price on Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Finally, UBS Group reaffirmed a "buy" rating and set a $196.00 price target on shares of Corning in a report on Wednesday. Nine research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $176.38.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported second-quarter revenue of $4.74 billion, up 17% year over year, while core EPS rose 30% to $0.78, exceeding the $0.76 consensus estimate. Corning Q2 results
• Positive Sentiment: Optical Communications sales increased 32% to $2.07 billion, led by a 65% gain in Enterprise Networks as generative-AI products continued to grow rapidly. Solar sales also climbed 90%, supporting revenue, margins and free cash flow. Corning beats Q2 estimates
• Positive Sentiment: Management highlighted demand from AI data centers and its Springboard plan, which is intended to accelerate sales and profitability. Corning’s fiber products are benefiting from the shift toward higher-bandwidth data-center networks. GLW AI growth plan
• Neutral Sentiment: Citigroup maintained a Buy rating but reduced its price target from $240 to $220. JPMorgan lowered its target from $200 to $170 and kept a Neutral rating, indicating analysts still see potential upside but have moderated expectations. Analyst target changes
• Negative Sentiment: Third-quarter revenue guidance of $4.9 billion to $5.0 billion was viewed as roughly in line with, rather than above, Wall Street’s $5.0 billion expectation. Although EPS guidance of $0.85-$0.89 exceeded the consensus midpoint, investors wanted a stronger outlook after the stock’s prior AI-driven rally. Corning guidance reaction
• Negative Sentiment: The guidance disappointment triggered a broad selloff in optical and AI infrastructure stocks. Analysts and market commentators also cited valuation concerns and a possible rotation away from recent AI winners, making the earnings beat insufficient to support the share price. Corning AI trade and guidance

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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