Foster & Motley Inc. Sells 12,574 Shares of Corning Incorporated $GLW

Key Points

• Foster & Motley Inc. reduced its stake in Corning (GLW) by 12.6% in Q4, selling 12,574 shares and retaining 87,401 shares valued at about $7.65 million per its SEC filing.
• Analyst sentiment has turned positive—11 analysts rate GLW a Buy versus 4 Holds, the consensus is a “Moderate Buy” with an average price target of $132.67 (Bank of America raised its target to $155).
• Insiders have been significant net sellers recently: CEO Wendell Weeks sold 137,514 shares (~$21.37M) and insiders sold 233,201 shares worth roughly $32.6M over the past 90 days, leaving insiders with about 0.25% ownership.

Foster & Motley Inc. lowered its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 12.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 87,401 shares of the electronics maker's stock after selling 12,574 shares during the quarter. Foster & Motley Inc.'s holdings in Corning were worth $7,653,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning during the third quarter worth $25,000. Strengthening Families & Communities LLC bought a new stake in Corning during the 3rd quarter worth approximately $27,000. Total Investment Management Inc. bought a new stake in Corning during the second quarter worth $28,000. Cornerstone Planning Group LLC grew its stake in shares of Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock worth $30,000 after acquiring an additional 124 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its stake in Corning by 111.1% in the 3rd quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker's stock valued at $31,000 after buying an additional 200 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on GLW. Wall Street Zen upgraded shares of Corning from a "hold" rating to a "buy" rating in a report on Friday, January 23rd. Bank of America lifted their price target on Corning from $144.00 to $155.00 and gave the company a "buy" rating in a research report on Monday, March 23rd. Wolfe Research set a $130.00 target price on shares of Corning and gave the stock an "outperform" rating in a report on Tuesday, January 27th. Oppenheimer set a $120.00 target price on Corning in a research note on Thursday, January 29th. Finally, Weiss Ratings upgraded shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $132.67.

Insiders Place Their Bets

In other news, insider Eric S. Musser sold 25,000 shares of the firm's stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $110.00, for a total value of $2,750,000.00. Following the completion of the sale, the insider directly owned 19,926 shares of the company's stock, valued at approximately $2,191,860. This trade represents a 55.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 750,585 shares of the company's stock, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 233,201 shares of company stock worth $32,614,558. Company insiders own 0.25% of the company's stock.

Corning Price Performance

Shares of Corning stock opened at $128.38 on Tuesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. Corning Incorporated has a one year low of $37.31 and a one year high of $162.10. The business's 50 day simple moving average is $127.41 and its two-hundred day simple moving average is $100.36. The stock has a market capitalization of $110.28 billion, a P/E ratio of 69.77, a price-to-earnings-growth ratio of 2.16 and a beta of 1.04.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to analysts' expectations of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm's revenue for the quarter was up 13.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, February 27th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date was Friday, February 27th. Corning's dividend payout ratio is currently 60.87%.

Corning Company 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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