WESCAP Management Group Inc. Sells 3,568 Shares of Corning Incorporated $GLW

WESCAP Management Group Inc. lessened its stake in Corning Incorporated (NYSE:GLW) by 14.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 20,761 shares of the electronics maker’s stock after selling 3,568 shares during the period. WESCAP Management Group Inc.’s holdings in Corning were worth $1,818,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Merit Financial Group LLC raised its stake in shares of Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after acquiring an additional 6,493 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its stake in shares of Corning by 4.9% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after purchasing an additional 12,297 shares in the last quarter. Security National Bank grew its holdings in shares of Corning by 340.4% during the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after purchasing an additional 56,056 shares during the last quarter. Three Seasons Wealth LLC purchased a new position in Corning in the 4th quarter worth $1,750,000. Finally, Natixis Advisors LLC raised its position in Corning by 32.1% in the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after purchasing an additional 116,583 shares during the period. Institutional investors own 69.80% of the company’s stock.

Corning Trading Down 0.0%

Shares of GLW opened at $177.52 on Monday. The stock has a market capitalization of $152.78 billion, a P/E ratio of 84.94, a PEG ratio of 2.54 and a beta of 1.15. Corning Incorporated has a twelve month low of $49.47 and a twelve month high of $211.79. 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 fifty day simple moving average of $173.00 and a two-hundred day simple moving average of $130.61.

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

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be given 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 yield of 0.6%. Corning’s dividend payout ratio is presently 53.59%.

Insiders Place Their Bets

In other news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were 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 of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 60,655 shares of company stock worth $12,046,561. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms have issued reports on GLW. Bank of America upped their price target on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a report on Saturday. Susquehanna boosted 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. UBS Group boosted their target price on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday. Finally, Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. 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, the stock has a consensus rating of “Moderate Buy” and an average 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.