Lederer & Associates Investment Counsel CA Cuts Stock Holdings in Corning Incorporated $GLW

Key Points

• Lederer & Associates Investment Counsel CA cut its Corning stake by 46.8% in the second quarter, selling 8,835 shares and retaining 10,058 shares valued at approximately $2.57 million.
• Institutional investors own about 69.8% of Corning, while analysts maintain a “Moderate Buy” consensus with an average price target of $174.08, despite mixed target revisions.
• Corning reported strong quarterly results, with revenue up 17.1% year over year and EPS of $0.78 versus estimates of $0.76. The company also declared a quarterly dividend of $0.28 per share, equivalent to a 0.7% annual yield.

Lederer & Associates Investment Counsel CA reduced its stake in Corning Incorporated (NYSE:GLW - Free Report) by 46.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 10,058 shares of the electronics maker's stock after selling 8,835 shares during the period. Corning makes up 1.7% of Lederer & Associates Investment Counsel CA's portfolio, making the stock its 15th largest holding. Lederer & Associates Investment Counsel CA's holdings in Corning were worth $2,569,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of GLW. Norges Bank purchased a new position in shares of Corning during the fourth quarter valued at about $921,435,000. Capital Research Global Investors increased its holdings in shares of Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the last quarter. Polar Capital Holdings Plc lifted its position 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 buying an additional 2,348,125 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in Corning by 102.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker's stock valued at $399,505,000 after buying an additional 2,304,676 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. bought a new position in Corning during the fourth quarter valued at approximately $185,312,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Analysts Set New Price Targets

Several research firms have weighed in on GLW. Zacks Research cut Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Citigroup lowered their target price on Corning from $240.00 to $220.00 and set a "buy" rating for the company in a research report on Wednesday, July 29th. Susquehanna boosted their price target on shares of Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a research report on Wednesday, April 29th. Morgan Stanley decreased their price target on shares of Corning from $180.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Finally, Bank of America increased their price objective on shares of Corning from $223.00 to $243.00 and gave the company a "buy" rating in a research report on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $174.08.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The stock was 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 of the company's stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the business's stock in a transaction on 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 transaction, the senior vice president 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 SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by company insiders.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s second-quarter results showed strong momentum: sales increased 17% year over year, while EPS rose 30% and exceeded estimates. Management also issued guidance for additional year-over-year growth in third-quarter core sales and earnings, reinforcing the investment case around optical connectivity and AI data-center demand. Corning: The Pullback We Asked For Arrived - An Upgrade To Buy
• Positive Sentiment: Analysts at Seeking Alpha upgraded GLW to “Buy,” arguing that the recent pullback created a more attractive entry point as fundamentals improve. Long-term agreements with Nvidia, Amazon and Meta are expected to support Corning’s Springboard growth strategy, including projected sales growth through 2028. Corning: The Pullback We Asked For Arrived - An Upgrade To Buy
• Positive Sentiment: Corning completed a multiyear share-repurchase program involving approximately $2.03 billion of stock, which can support EPS and signal confidence in the company’s long-term prospects. Unusually heavy trading in long-dated GLW call options also indicates bullish positioning among some investors. Why Corning Is Up After Strong Q2 Results
• Neutral Sentiment: A facility leased to a Corning affiliate in Arizona was acquired by Pivotal Manufacturing Partners and Meadow Partners. The transaction appears primarily related to the property’s ownership and is not expected to materially change Corning’s operating outlook. Pivotal Manufacturing Partners Acquire Advanced Manufacturing Facility
• Negative Sentiment: Jabil was judged the better AI-infrastructure investment because of its lower valuation, broader hardware exposure and stronger projected 2026 growth. With GLW trading at a relatively high earnings multiple, this comparison highlights valuation risk even as Corning’s AI-related fundamentals remain strong. Jabil vs. Corning: Which AI Infrastructure Stock is the Better Buy?

Corning Price Performance

GLW stock opened at $159.20 on Wednesday. The stock has a market cap of $137.13 billion, a PE ratio of 72.69, a P/E/G ratio of 2.02 and a beta of 1.14. Corning Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78. The company has a 50-day moving average price of $178.53 and a 200 day moving average price of $160.44. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm's revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning's dividend 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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