Longfellow Investment Management Co. LLC Reduces Holdings in Corning Incorporated $GLW

Longfellow Investment Management Co. LLC decreased its holdings in shares of Corning Incorporated (NYSE:GLW) by 38.1% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 8,411 shares of the electronics maker’s stock after selling 5,188 shares during the period. Longfellow Investment Management Co. LLC’s holdings in Corning were worth $736,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Corning during the third quarter worth about $25,000. Berbice Capital Management LLC acquired a new stake in shares of Corning during the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning during the fourth quarter worth about $26,000. Evolution Wealth Management Inc. lifted its holdings in shares of Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 141 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in shares of Corning during the third quarter worth about $33,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Down 10.2%

Shares of NYSE:GLW opened at $177.52 on Friday. Corning Incorporated has a 12-month low of $49.47 and a 12-month high of $211.79. The company has a market capitalization of $152.78 billion, a PE ratio of 84.94, a PEG ratio of 2.54 and a beta of 1.15. The business has a 50 day moving average of $173.00 and a two-hundred day moving average of $130.26. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its quarterly earnings results 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 company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio is presently 53.59%.

Insiders Place Their Bets

In other news, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This represents a 43.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the company’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 value 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. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 60,655 shares of company stock valued at $12,046,561. Corporate insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Citigroup lifted their target price on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. HSBC reissued a “buy” rating and issued a $135.00 price target on shares of Corning in a report on Friday, February 13th. Finally, Susquehanna boosted their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $178.31.

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.