Randolph Co Inc Sells 404,117 Shares of Corning Incorporated $GLW

Randolph Co Inc decreased its holdings in Corning Incorporated (NYSE:GLW) by 52.5% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 365,646 shares of the electronics maker’s stock after selling 404,117 shares during the quarter. Corning makes up 4.7% of Randolph Co Inc’s portfolio, making the stock its 4th biggest position. Randolph Co Inc’s holdings in Corning were worth $49,717,000 as of its most recent SEC filing.

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

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLW. Susquehanna boosted their price objective on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Oppenheimer lifted their target price on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Citigroup boosted their price target on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Truist Financial raised their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Finally, Bank of America raised 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. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $186.46.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, 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 transaction of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 160,655 shares of company stock worth $30,692,560. Company insiders own 0.25% of the company’s stock.

Corning Stock Performance

Shares of GLW opened at $220.72 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $271.78. The firm has a fifty day moving average of $189.43 and a 200-day moving average of $145.27. The company has a market cap of $189.96 billion, a price-to-earnings ratio of 105.61, a price-to-earnings-growth ratio of 3.65 and a beta of 1.09.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 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 company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.5%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Mizuho raised its price target on Corning to $270 from $220 and kept an outperform rating, signaling further upside from recent levels and reinforcing bullish sentiment around the stock. Mizuho raises Corning price target
• Positive Sentiment: Recent commentary highlights Corning’s strength in data center growth, which is supporting demand for its optical communications and specialty glass products and helping explain the stock’s move to record highs.
• Positive Sentiment: Corning’s addition to the Russell Growth indexes could broaden ownership among growth-focused funds and ETFs, potentially creating incremental demand for shares. Corning joins Russell Growth Indexes
• Positive Sentiment: Investors also remain focused on Corning’s recent dividend-related momentum and strong stock performance, which has kept the name on market screens for momentum and income buyers. Corning sets date for new dividend
• Neutral Sentiment: Analyst coverage updates and general commentary from recent market articles suggest Corning remains a closely watched large-cap technology materials name, but no major new operational change was disclosed in those notes. Analysts offer insights on Corning
• Negative Sentiment: Some recent coverage warns that after a steep multi-month advance, valuation and execution risks are increasing, which could limit near-term upside or trigger profit-taking.

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.