Mustico Financial Group Inc. Sells 22,221 Shares of Corning Incorporated $GLW

Mustico Financial Group Inc. lessened its holdings in shares of Corning Incorporated (NYSE:GLW) by 82.6% in the 1st quarter, Holdings Channel.com reports. The firm owned 4,682 shares of the electronics maker’s stock after selling 22,221 shares during the quarter. Corning makes up approximately 0.4% of Mustico Financial Group Inc.’s portfolio, making the stock its 20th largest position. Mustico Financial Group Inc.’s holdings in Corning were worth $637,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the business. Berbice Capital Management LLC bought a new position in Corning in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning in the fourth quarter valued at approximately $27,000. Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning in the fourth quarter worth $31,000. Finally, Evolution Wealth Management Inc. increased its position in 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 acquiring an additional 141 shares during the period. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

GLW has been the subject of several research analyst reports. JPMorgan Chase & Co. upped their target price on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Truist Financial boosted their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Susquehanna upped their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Citigroup increased their target price on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Finally, Oppenheimer lifted their target price on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Nine investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $194.69.

Corning Stock Down 6.1%

NYSE GLW opened at $146.57 on Friday. Corning Incorporated has a 1-year low of $54.89 and a 1-year high of $271.78. The company has a market capitalization of $126.14 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 1.93 and a beta of 1.09. The stock’s 50 day moving average is $188.01 and its two-hundred day moving average is $155.14. 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 issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business 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%.Corning’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is currently 53.59%.

Insider Activity

In other news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by company insiders.

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.