First National Advisers LLC Sells 14,292 Shares of Corning Incorporated $GLW

Key Points

• First National Advisers LLC reduced its Corning stake by 23.8% in the fourth quarter, selling 14,292 shares and ending with 45,767 shares valued at about $4.0 million.
• Analysts remain mixed but generally positive on NYSE:GLW, with an average rating of “Moderate Buy” and an average target price of $172.15, though a few firms recently trimmed their ratings.
• Corning reported solid quarterly results, beating EPS and revenue estimates, and it also announced a quarterly dividend of $0.28 per share payable June 29.

First National Advisers LLC cut its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 23.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 45,767 shares of the electronics maker's stock after selling 14,292 shares during the quarter. First National Advisers LLC's holdings in Corning were worth $4,007,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the business. Merit Financial Group LLC grew its position in Corning by 16.9% in the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock worth $3,940,000 after purchasing an additional 6,493 shares during the period. Lansforsakringar Fondforvaltning AB publ grew its position in shares of Corning by 4.9% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker's stock valued at $21,471,000 after acquiring an additional 12,297 shares during the period. Hartline Investment Corp lifted its stake in shares of Corning by 113.2% during the 3rd quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker's stock valued at $24,229,000 after buying an additional 156,843 shares in the last quarter. Three Seasons Wealth LLC purchased a new position in shares of Corning during the 4th quarter valued at $1,750,000. Finally, Natixis Advisors LLC lifted its stake in shares of Corning by 32.1% during the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker's stock valued at $39,367,000 after buying an additional 116,583 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on GLW. JPMorgan Chase & Co. lifted 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. Wall Street Zen cut shares of Corning from a "buy" rating to a "hold" rating in a research note on Saturday. Fox Advisors cut shares of Corning from an "overweight" rating to an "equal weight" rating in a research note on Thursday, January 29th. Oppenheimer lifted their target price on shares of Corning from $120.00 to $210.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Finally, Mizuho set a $145.00 target price on shares of Corning in a research note on Monday, February 23rd. 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.com, the stock has an average rating of "Moderate Buy" and an average target price of $172.15.

Corning Stock Performance

Shares of NYSE:GLW opened at $206.99 on Tuesday. The company has a market capitalization of $178.14 billion, a price-to-earnings ratio of 99.04, a PEG ratio of 2.68 and a beta of 1.14. Corning Incorporated has a 12 month low of $46.34 and a 12 month high of $208.92. The firm's 50-day moving average is $152.13 and its 200 day moving average is $116.67. 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 (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm's revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. Corning's dividend payout ratio (DPR) is 53.59%.

Insider Transactions at Corning

In other news, VP John Z. Zhang sold 1,531 shares of the firm's stock in a transaction that occurred on Thursday, February 12th. The shares were sold at an average price of $133.75, for a total transaction of $204,771.25. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of the firm's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the transaction, the chief executive officer directly owned 750,585 shares in the company, valued at approximately $116,618,391.45. This trade represents a 15.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 140,628 shares of company stock valued at $21,774,117. 0.25% of the stock is currently owned by company insiders.

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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