Flputnam Investment Management Co. Sells 10,150 Shares of Corning Incorporated $GLW

Flputnam Investment Management Co. decreased its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 6.3% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 150,139 shares of the electronics maker's stock after selling 10,150 shares during the period. Flputnam Investment Management Co.'s holdings in Corning were worth $13,146,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital Research Global Investors bought a new stake in shares of Corning in the third quarter worth $907,164,000. WCM Investment Management LLC bought a new stake in shares of Corning in the third quarter worth $676,931,000. Wellington Management Group LLP grew its holdings in shares of Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares during the period. Polar Capital Holdings Plc grew its holdings in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock worth $329,035,000 after acquiring an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Corning in the third quarter worth $185,221,000. Institutional investors own 69.80% of the company's stock.

Insider Buying and Selling at Corning

In other Corning 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 sale, the senior vice president owned 25,570 shares of the company's stock, valued at approximately $5,273,301.10. The trade was a 43.89% 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. Also, SVP Jaymin Amin sold 27,395 shares of the business'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 sale, the senior vice president directly owned 94,400 shares of the company's stock, valued at $18,138,016. This represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 198,169 shares of company stock valued at $33,412,111 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GLW has been the subject of several research analyst reports. JPMorgan Chase & Co. lifted their price objective on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Susquehanna lifted their price objective on Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a report on Wednesday, April 29th. Fox Advisors lowered Corning from an "overweight" rating to an "equal weight" rating in a report on Thursday, January 29th. HSBC reaffirmed a "buy" rating and issued a $135.00 price objective on shares of Corning in a report on Friday, February 13th. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corning in a report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $177.92.

Corning Stock Performance

NYSE:GLW opened at $196.64 on Wednesday. The stock has a 50-day simple moving average of $164.19 and a two-hundred day simple moving average of $124.80. Corning Incorporated has a 52-week low of $48.62 and a 52-week high of $211.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The firm has a market capitalization of $169.24 billion, a PE ratio of 94.09, a P/E/G ratio of 2.78 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. 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. Analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning's payout ratio is currently 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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