Greenland Capital Management LP Has $564,000 Holdings in Corning Incorporated $GLW

Key Points

• Greenland Capital Management cut its Corning stake by 79.2% in the second quarter, selling 8,396 shares and retaining 2,208 shares worth approximately $564,000. Institutional investors collectively own 69.8% of Corning.
• Analyst sentiment remains positive but price targets have been reduced: Corning has a “Moderate Buy” consensus rating and an average target of $174.08, compared with shares opening at $154.22.
• Corning exceeded quarterly earnings and revenue estimates, reporting $0.78 EPS and $4.74 billion in revenue, while guiding for third-quarter EPS of $0.85–$0.89. The company also declared a quarterly dividend of $0.28 per share, representing a 0.7% annualized yield.

Greenland Capital Management LP decreased its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 79.2% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,208 shares of the electronics maker's stock after selling 8,396 shares during the quarter. Greenland Capital Management LP's holdings in Corning were worth $564,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in GLW. Brighton Jones LLC lifted its position in Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock worth $319,000 after buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Corning during the 1st quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock valued at $2,962,000 after acquiring an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Corning in the second quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in shares of Corning in the second quarter valued at about $266,000. Institutional investors own 69.80% of the company's stock.

Insider Buying and Selling at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on GLW. Weiss Ratings cut Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Wall Street Zen cut Corning from a "buy" rating to a "hold" rating in a research note on Monday, August 24th. Truist Financial raised Corning from a "hold" rating to a "buy" rating and cut their price objective for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. Finally, Mizuho lowered their target price on shares of Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. 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, Corning has a consensus rating of "Moderate Buy" and an average target price of $174.08.

Corning Trading Down 0.1%

Shares of NYSE:GLW opened at $154.22 on Tuesday. Corning Incorporated has a 52-week low of $70.06 and a 52-week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company has a market capitalization of $132.84 billion, a P/E ratio of 70.42, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16. The company has a 50-day simple moving average of $162.71 and a 200 day simple moving average of $165.56.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning's payout ratio is presently 51.14%.

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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