Northwestern Mutual Wealth Management Co. Sells 59,199 Shares of Corning Incorporated $GLW

Key Points

• Northwestern Mutual Wealth Management Co. cut its Corning stake by 63.6% in the fourth quarter, selling 59,199 shares and leaving it with 33,851 shares worth about $2.96 million.
• Corning reported strong quarterly results, with EPS of $0.70 and revenue of $4.35 billion, both slightly above expectations and up 18.1% year over year. The company also guided Q2 2026 EPS to a range of $0.73 to $0.77.
• Wall Street remains generally positive on GLW, with several analysts raising price targets and the consensus rating at “Moderate Buy” with an average target price of $177.92. Corning also announced a quarterly dividend of $0.28 per share, payable June 29.

Northwestern Mutual Wealth Management Co. trimmed its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 63.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 33,851 shares of the electronics maker's stock after selling 59,199 shares during the quarter. Northwestern Mutual Wealth Management Co.'s holdings in Corning were worth $2,964,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning in the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC bought a new stake in shares of Corning in the third quarter valued at approximately $27,000. Cornerstone Planning Group LLC boosted its position in shares of Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock valued at $30,000 after acquiring an additional 124 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Corning in the third quarter valued at approximately $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Corning in the fourth quarter valued at approximately $35,000. 69.80% of the stock is owned by institutional investors.

Corning Price Performance

Shares of GLW stock opened at $193.83 on Tuesday. The stock's fifty day moving average is $162.85 and its 200-day moving average is $124.03. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The stock has a market capitalization of $166.82 billion, a PE ratio of 92.74, a PEG ratio of 2.78 and a beta of 1.14. Corning Incorporated has a 52 week low of $47.67 and a 52 week high of $211.79.

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

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning's dividend payout ratio (DPR) is currently 53.59%.

Insider Transactions at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the firm's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 170,774 shares of company stock worth $28,148,435 in the last ninety days. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on GLW. Truist Financial increased their price objective on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research report on Wednesday, April 29th. UBS Group increased their price objective on Corning from $179.00 to $223.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Mizuho increased their price objective on Corning from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Tuesday, May 12th. Bank of America upped their target price on Corning from $155.00 to $186.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Finally, Oppenheimer upped their target price on Corning from $120.00 to $210.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $177.92.

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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