Illinois Municipal Retirement Fund Sells 55,519 Shares of Corning Incorporated $GLW

Key Points

• Illinois Municipal Retirement Fund cut its Corning position by 18.8% in the first quarter, selling 55,519 shares and leaving it with 239,160 shares valued at about $32.5 million.
• Analyst sentiment on Corning remains generally constructive: ten analysts rate it a Buy and six a Hold, with a consensus Moderate Buy and average price target of $194.69.
• Corning has also seen recent insider selling, including sizable sales by SVP Jaymin Amin and CEO Wendell P. Weeks, even as the company reported stronger-than-expected quarterly results and raised Q2 guidance.

Illinois Municipal Retirement Fund reduced its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 18.8% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 239,160 shares of the electronics maker's stock after selling 55,519 shares during the period. Illinois Municipal Retirement Fund's holdings in Corning were worth $32,519,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of GLW. Brighton Jones LLC increased its position in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock worth $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in shares of Corning during the first quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in 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 bought a new stake in Corning in the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in Corning in the 2nd quarter worth $266,000. Institutional investors own 69.80% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GLW shares. Zacks Research cut Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Barclays boosted their price target on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Morgan Stanley set a $180.00 price objective on Corning in a report on Friday, May 8th. Citigroup boosted their target price on Corning from $225.00 to $240.00 and gave the company a "buy" rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat.com, Corning has an average rating of "Moderate Buy" and an average target price of $194.69.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning is still being highlighted as a beneficiary of AI infrastructure spending, with articles pointing to its role in solving networking and connectivity bottlenecks and noting consensus Buy/Moderate Buy sentiment. Beyond the Foundry: 5 Infrastructure Stocks Tackling the AI Bottlenecks (GLW)
• Positive Sentiment: Technical traders are pointing to Corning testing its 80-day moving average, a level that has historically acted as a bullish support trendline, suggesting some upside potential after the recent breather. Corning Stock Signal Hints at Upside Potential Amid Breather
• Neutral Sentiment: Several previews and industry outlook pieces are keeping Corning in focus ahead of earnings, but they do not appear to change the investment thesis materially on their own. Corning earnings preview: What to expect
• Neutral Sentiment: Corning remains on industry watchlists alongside peers benefiting from fiber densification, cloud spending, and 5G deployment, which supports the longer-term growth case but is not a direct catalyst. 3 Communication Stocks Set to Soar on Inherent Sector Strength
• Negative Sentiment: Investor sentiment has been pressured by a report citing executive stock sales and earnings uncertainty, while another note argued GLW may not look cheap after its strong multi-year run, raising valuation concerns. Corning (GLW) Stock Plunges 8% Amid Executive Sales and Earnings Uncertainty Corning (GLW) Stock Could Be 7% Above Fair Value On AI Selloff

Insider Buying and Selling at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the business's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares of the company's stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $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 have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last three months. Corporate insiders own 0.25% of the company's stock.

Corning Trading Down 7.0%

NYSE GLW opened at $174.44 on Thursday. The company has a market cap of $150.13 billion, a PE ratio of 83.46, a PEG ratio of 2.47 and a beta of 1.09. Corning Incorporated has a 12 month low of $52.19 and a 12 month high of $271.78. The stock has a 50 day moving average of $193.94 and a 200-day moving average of $152.35. 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 announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter last year, the company posted $0.54 earnings per share. The company's revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts anticipate that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared 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 is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning's dividend payout ratio (DPR) is presently 53.59%.

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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