TD Waterhouse Canada Inc. Sells 4,256 Shares of Corning Incorporated $GLW

TD Waterhouse Canada Inc. lessened its position in Corning Incorporated (NYSE:GLW) by 1.0% during the second quarter, Holdings Channel reports. The fund owned 436,618 shares of the electronics maker’s stock after selling 4,256 shares during the period. TD Waterhouse Canada Inc.’s holdings in Corning were worth $111,525,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. State Street Corp boosted its holdings 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 worth $3,035,836,000 after purchasing an additional 439,883 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Corning by 2.6% during 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 purchasing an additional 517,067 shares during the last quarter. Bank of America Corp DE raised its holdings in shares of Corning by 29.2% during the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after buying an additional 4,231,507 shares in the last quarter. Capital Research Global Investors lifted its position in Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after buying an additional 1,036,988 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of NYSE:GLW opened at $146.00 on Friday. The company has a market cap of $125.76 billion, a price-to-earnings ratio of 66.67, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. The company has a 50-day moving average price of $166.12 and a 200-day moving average price of $165.25. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $69.39 and a 12 month high of $271.78.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is currently 51.14%.

Wall Street Analyst Weigh In

A number of research analysts have commented on GLW shares. Weiss Ratings cut shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Mizuho cut their price objective on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Oppenheimer reduced their target price on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Finally, Bank of America lifted their target price on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Insiders Place Their Bets

In related news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Wendell Weeks sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.25% of the company’s stock.

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.