Rockefeller Capital Management L.P. Trims Holdings in Corning Incorporated $GLW

Key Points

• Rockefeller Capital Management trimmed its Corning stake by 3.3% in the fourth quarter, selling 14,109 shares and ending with 417,834 shares valued at about $36.6 million.
• Corning reported strong quarterly results, beating EPS and revenue estimates, and also issued Q2 2026 guidance of $0.73–$0.77 per share.
• The company raised its dividend to $0.28 per share quarterly, while analysts remain generally positive with a consensus rating of Moderate Buy and an average target price of $178.31.

Rockefeller Capital Management L.P. decreased its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 3.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 417,834 shares of the electronics maker's stock after selling 14,109 shares during the period. Rockefeller Capital Management L.P.'s holdings in Corning were worth $36,586,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Capital Research Global Investors bought a new position in shares of Corning in the third quarter worth approximately $907,164,000. Norges Bank bought a new stake in shares of Corning during the 4th quarter valued at $921,435,000. Wellington Management Group LLP raised its position in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. Polar Capital Holdings Plc lifted its stake in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock valued at $329,035,000 after buying an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its holdings in Corning by 102.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker's stock worth $399,505,000 after buying an additional 2,304,676 shares during the period. Hedge funds and other institutional investors own 69.80% of the company's stock.

Insider Buying and Selling at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% 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, VP John Z. Zhang sold 10,000 shares of the firm's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares of the company's stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 over the last three months. 0.25% of the stock is owned by company insiders.

Corning Stock Up 0.2%

Shares of GLW stock opened at $195.28 on Monday. The company's fifty day simple moving average is $180.63 and its two-hundred day simple moving average is $137.63. Corning Incorporated has a 52 week low of $49.97 and a 52 week high of $211.79. The stock has a market cap of $168.06 billion, a P/E ratio of 93.44, a PEG ratio of 2.79 and a beta of 1.15. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business posted $0.54 earnings per share. The business's quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. Mizuho increased their price target on Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 12th. Barclays boosted their price objective on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Wall Street Zen cut Corning from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Zacks Research downgraded Corning from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Finally, Susquehanna lifted their target price on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a research note on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Corning has an average rating of "Moderate Buy" and a consensus target price of $178.31.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.