Lombard Odier Asset Management USA Corp Cuts Position in Corning Incorporated $GLW

Key Points

• Lombard Odier Asset Management USA Corp cut its Corning stake by 71.7% in the fourth quarter, leaving it with 10,359 shares valued at about $907,000.
• Corning reported better-than-expected quarterly results, posting $0.70 EPS on $4.35 billion in revenue, and it lifted its Q2 2026 EPS guidance to 0.730-0.770.
• The company also announced a quarterly dividend of $0.28 per share, while analysts remain broadly constructive with a consensus rating of Moderate Buy and an average price target of $178.31.

Lombard Odier Asset Management USA Corp decreased its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 71.7% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,359 shares of the electronics maker's stock after selling 26,248 shares during the quarter. Lombard Odier Asset Management USA Corp's holdings in Corning were worth $907,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning in the third quarter valued at $25,000. Berbice Capital Management LLC acquired a new stake in Corning in the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the fourth quarter valued at $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning in the fourth quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in Corning in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Stock Down 5.6%

GLW opened at $177.34 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market cap of $152.62 billion, a P/E ratio of 84.85, a PEG ratio of 2.69 and a beta of 1.15. Corning Incorporated has a 52 week low of $49.97 and a 52 week high of $211.79. The business's fifty day simple moving average is $178.51 and its 200 day simple moving average is $135.42.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning's dividend payout ratio (DPR) is presently 53.59%.

Insider Buying and Selling at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company's stock, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 160,655 shares of company stock valued at $30,692,561. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on GLW shares. Weiss Ratings reissued a "buy (b-)" rating on shares of Corning in a report on Friday, May 15th. Barclays upped their target price on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Bank of America upped their target price on Corning from $155.00 to $186.00 and gave the company a "buy" rating in a report on Monday, April 20th. JPMorgan Chase & Co. upped their target price on Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Finally, Truist Financial upped their target price on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a report on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $178.31.

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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