Equitable Holdings Inc. Sells 16,613 Shares of Corning Incorporated $GLW

Equitable Holdings Inc. lessened its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 19.7% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,557 shares of the electronics maker's stock after selling 16,613 shares during the period. Equitable Holdings Inc.'s holdings in Corning were worth $17,256,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the business. Berbice Capital Management LLC acquired a new stake in Corning during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new position in Corning in the 4th quarter valued at $26,000. Atwood & Palmer Inc. bought a new stake in shares of Corning during the 2nd quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning during the 4th quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning during the 4th quarter worth $31,000. 69.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on GLW shares. Oppenheimer decreased their price target on Corning from $230.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. UBS Group reiterated a "buy" rating and set a $196.00 price objective on shares of Corning in a research note on Wednesday, July 29th. Morgan Stanley decreased their target price on shares of Corning from $180.00 to $165.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 29th. Citigroup dropped their target price on shares of Corning from $240.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, July 29th. Finally, Zacks Research downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.08.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the business's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

Corning Stock Performance

NYSE GLW opened at $152.72 on Friday. The firm's fifty day moving average price is $172.11 and its two-hundred day moving average price is $164.71. The stock has a market cap of $131.55 billion, a PE ratio of 69.73, a PEG ratio of 1.96 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a fifty-two week low of $66.14 and a fifty-two week high of $271.78.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. The company 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%.Corning's revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning's dividend payout ratio (DPR) is currently 51.14%.

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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