Verity & Verity LLC Has $26.67 Million Stock Position in Corning Incorporated $GLW

Key Points

• Verity & Verity LLC trimmed its Corning stake by 6.0% in the fourth quarter, selling 19,591 shares and leaving it with 304,608 shares worth about $26.67 million.
• Corning beat quarterly expectations, reporting $0.70 EPS on $4.35 billion in revenue, both slightly above analyst estimates. The company also issued Q2 2026 EPS guidance of 0.73 to 0.77.
• Insiders and analysts remain active on the stock: several executives sold shares recently, while analysts have kept a Moderate Buy consensus with an average target price of $177.92.

Verity & Verity LLC reduced its position in Corning Incorporated (NYSE:GLW - Free Report) by 6.0% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 304,608 shares of the electronics maker's stock after selling 19,591 shares during the period. Corning accounts for approximately 2.1% of Verity & Verity LLC's investment portfolio, making the stock its 14th largest holding. Verity & Verity LLC's holdings in Corning were worth $26,671,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Corning by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock valued at $8,693,247,000 after buying an additional 580,678 shares during the period. State Street Corp increased its stake in shares of Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after buying an additional 439,883 shares during the period. Geode Capital Management LLC increased its stake in shares of Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock valued at $1,781,250,000 after buying an additional 517,067 shares during the period. Wellington Management Group LLP increased its stake in shares of Corning by 30.3% in 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 buying an additional 3,848,540 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock valued at $724,432,000 after buying an additional 1,036,988 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Down 0.9%

Shares of Corning stock opened at $181.37 on Friday. 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 Incorporated has a 12 month low of $48.88 and a 12 month high of $211.79. The business has a fifty day simple moving average of $167.47 and a 200 day simple moving average of $126.60. The stock has a market cap of $156.09 billion, a PE ratio of 86.78, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion during 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 period in the previous year, the firm earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently announced 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. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning's payout ratio is currently 53.59%.

Analysts Set New Price Targets

Several research firms have recently commented on GLW. Morgan Stanley set a $180.00 target price on Corning in a research note on Friday, May 8th. Oppenheimer lifted their price objective on Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Bank of America lifted their price objective on Corning from $155.00 to $186.00 and gave the stock a "buy" rating in a research note on Monday, April 20th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Finally, JPMorgan Chase & Co. lifted their price objective on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Corning has an average rating of "Moderate Buy" and an average target price of $177.92.

Insiders Place Their Bets

In other Corning news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 60,655 shares of company stock valued at $12,046,561. Insiders own 0.25% of the company's stock.

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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