Brant Point Investment Management LLC Cuts Stake in Corning Incorporated $GLW

Brant Point Investment Management LLC reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 8.2% 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 66,934 shares of the electronics maker’s stock after selling 6,000 shares during the quarter. Corning comprises approximately 0.7% of Brant Point Investment Management LLC’s holdings, making the stock its 18th largest position. Brant Point Investment Management LLC’s holdings in Corning were worth $5,861,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Vanguard Group Inc. grew its holdings in Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after buying an additional 580,678 shares in the last quarter. State Street Corp grew its holdings in Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after buying 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 buying an additional 517,067 shares in the last quarter. Capital Research Global Investors grew its holdings 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 valued at $1,478,959,000 after buying an additional 5,831,873 shares in the last quarter. Finally, Wellington Management Group LLP grew its holdings in Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after buying an additional 3,848,540 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock valued at $30,692,561 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

Corning Stock Up 1.9%

Shares of GLW opened at $179.85 on Friday. The company has a market cap of $154.79 billion, a PE ratio of 86.05, a P/E/G ratio of 2.56 and a beta of 1.15. The business has a fifty day moving average of $177.15 and a 200 day moving average of $133.67. Corning Incorporated has a 52-week low of $49.47 and a 52-week 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.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. The business 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%.The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. Barclays raised their target price on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Morgan Stanley set a $180.00 target price on shares of Corning in a report on Friday, May 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, JPMorgan Chase & Co. raised their target price on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.