Glenmede Trust Co. NA Has $10.45 Million Stock Position in Corning Incorporated $GLW

Key Points

• Glenmede Trust reduced its Corning position by 24.3% in the first quarter, selling 24,629 shares and retaining 76,826 shares valued at approximately $10.45 million. Institutional investors and hedge funds collectively own 69.8% of Corning.
• Corning exceeded quarterly expectations with EPS of $0.78 and revenue of $4.74 billion, up 17.1% year over year. Management guided for third-quarter EPS of $0.85–$0.89, supported by strong demand for optical products tied to AI infrastructure.
• Analysts maintain a “Moderate Buy” consensus with an average price target of $174.08, although recent target cuts, premium valuation, and insider selling remain potential risks. Corning also announced a quarterly dividend of $0.28 per share, yielding about 0.8% annually.

Glenmede Trust Co. NA reduced its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 24.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 76,826 shares of the electronics maker's stock after selling 24,629 shares during the period. Glenmede Trust Co. NA's holdings in Corning were worth $10,446,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Signature Equity Partners LLC boosted its holdings in Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock valued at $52,000 after acquiring an additional 62 shares during the period. Beirne Wealth Consulting Services LLC increased its stake in shares of Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock worth $1,094,000 after purchasing an additional 64 shares during the period. Balefire LLC increased its stake in shares of Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock worth $1,305,000 after purchasing an additional 65 shares during the period. Millstone Evans Group LLC lifted its position in shares of Corning by 1.3% during the 1st quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker's stock worth $733,000 after purchasing an additional 67 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its position in shares of Corning by 1.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker's stock worth $623,000 after purchasing an additional 70 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have issued reports on GLW. Wall Street Zen raised Corning from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. Mizuho cut their price target on Corning from $270.00 to $210.00 and set an "outperform" rating for the company in a report on Wednesday. Barclays reduced their price objective on Corning from $180.00 to $129.00 and set an "equal weight" rating for the company in a research report on Wednesday. Bank of America raised their price objective on shares of Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Finally, UBS Group reaffirmed a "buy" rating and set a $196.00 target price on shares of Corning in a research report on Wednesday. Nine analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $174.08.

Corning Trading Up 0.2%

Shares of GLW opened at $138.54 on Monday. The stock's 50-day moving average price is $182.92 and its 200 day moving average price is $157.24. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $119.34 billion, a price-to-earnings ratio of 63.26, a P/E/G ratio of 1.78 and a beta of 1.14. Corning Incorporated has a 12-month low of $61.44 and a 12-month high of $271.78.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the company earned $0.60 EPS. The company's quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts predict that Corning Incorporated will post 3.25 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio is presently 51.14%.

Insider Transactions at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. Corporate insiders own 0.25% of the company's stock.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: AI-driven optical growth is supporting the rebound. Second-quarter core sales rose 17% year over year to $4.74 billion, while core EPS increased 30% to $0.78. Optical Communications sales jumped 32% to $2.07 billion, helped by enterprise-network demand tied to artificial-intelligence infrastructure. Multiyear partnerships with Amazon and NVIDIA, along with Corning’s $10 billion photonics ambition, are reinforcing the long-term growth narrative. Why Corning Incorporated Stock Is Up Today
• Positive Sentiment: Management’s near-term outlook remains healthy. Corning guided for third-quarter core sales of $4.9 billion to $5.0 billion and core EPS of $0.85 to $0.89. Stronger cash flow, rising earnings estimates and expectations for accelerating growth under the extended Springboard plan are supporting investor confidence. Corning Rides AI Data Center Growth as Optical Demand Accelerates
• Neutral Sentiment: Solar and photonics expansion remain execution-dependent. Investors are watching whether Corning can convert rapidly rising solar sales into sustainable profitability while also funding U.S. expansion and meeting its ambitious photonics targets. Corning Growth Outlook Hinges on AI Optics and Solar Profitability
• Negative Sentiment: Valuation and market skepticism remain risks. After its AI-led rally, GLW trades at a premium valuation, leaving less room for execution mistakes. Analysts at JPMorgan and Citigroup issued cautious views, while the earlier selloff reflected concerns that third-quarter guidance implied slower growth against difficult comparisons. Is GLW Stock Attractive After Its AI Rally and Earnings Momentum?
• Negative Sentiment: Insider selling is a sentiment headwind. Company insiders reportedly made 14 open-market sales and no purchases during the past six months, including sales by CEO Wendell Weeks and other senior executives.

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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