Corning Incorporated $GLW Shares Sold by Van ECK Associates Corp

Van ECK Associates Corp decreased its stake in Corning Incorporated (NYSE:GLW) by 97.1% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,669 shares of the electronics maker’s stock after selling 90,613 shares during the period. Van ECK Associates Corp’s holdings in Corning were worth $682,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. State Street Corp lifted its position in shares of Corning by 1.2% during the third 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 grew its holdings in 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 in the last quarter. Bank of America Corp DE grew its holdings in 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 purchasing an additional 4,231,507 shares in the last quarter. Capital Research Global Investors increased its stake in Corning by 52.7% during 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 period. Finally, Ameriprise Financial Inc. lifted its holdings 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 in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Wendell Weeks sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is currently owned by company insiders.

Corning Stock Performance

Shares of Corning stock opened at $154.22 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 1 year low of $70.06 and a 1 year high of $271.78. The firm’s 50-day simple moving average is $164.74 and its 200-day simple moving average is $165.17. The firm has a market cap of $132.84 billion, a PE ratio of 70.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.16.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. 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. Equities analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Analyst Ratings Changes

A number of equities analysts have weighed in on GLW shares. Citigroup decreased their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Mizuho lowered their price objective on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Finally, UBS Group reaffirmed a “buy” rating and issued a $196.00 target price on shares of Corning in a research report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average price target of $174.08.

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.