National Pension Service Reduces $25M in Corning Incorporated ($GLW)
National Pension Service reduced its holdings in Corning by 4.2%, now holding 2.19 million shares.
Key Points
- National Pension Service trimmed its position in Corning Incorporated, reducing its holdings by 95,826 shares, a 4.2% decrease, now holding 2.19 million shares valued at $462.5 million.
- Shares of Corning Incorporated traded near $210.91 on Thursday, with a market cap of $180.6 billion and a forward P/E ratio of 49.92.
- Recent insider activity at Corning included sales by executives, while analysts from UBS and Mizuho maintained 'buy' ratings with price targets up to $228.
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National Pension Service (NPS) has trimmed its holdings in Corning Incorporated (NYSE: GLW). The fund reduced its stake by 95,826 shares, a 4.2% decrease, bringing its total to 2,193,110 shares. The value of this position is now approximately $462.5 million, based on the latest SEC filing.
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What Changed in National Pension Service's Corning Position
NPS cut its stake in Corning by 95,826 shares, a 4.2% reduction from its previous holding of 2,288,936 shares. This adjustment leaves the fund with 2,193,110 shares, valued at around $462.5 million as of the reporting period.
Other Institutional Activity in Corning
Several other institutional investors also made moves in Corning. BlackRock, Inc. increased its holdings by 3,125,628 shares, bringing its total to 66,710,492 shares worth about $9.07 billion, a 4.9% increase. Vanguard Capital Management LLC opened a new position with 50,456,014 shares valued at approximately $6.86 billion. State Street Corp reduced its holdings by 524,999 shares, a 1.4% decrease, ending with 36,263,357 shares worth $4.93 billion. FMR LLC significantly boosted its stake by 10,458,914 shares, a 72.4% increase, now holding 24,909,423 shares valued at $3.39 billion.
Corning Incorporated Stock Up 78.5%
Shares of Corning Incorporated traded near $210.91 on Thursday. The company has a market capitalization of $180.6 billion and a forward P/E ratio of 49.92. Its beta is 1.155, indicating moderate volatility. The stock's 52-week range is between $50.26 and $212.39, with a 50-day moving average of $179.20 and a 200-day moving average of $120.57. Corning maintains a current ratio of 1.61 and a quick ratio of 0.749, with a debt-to-equity ratio of 80.36.
$GLW stock price
Daily closing prices, year to date. Not investment advice.
Recent Earnings
Corning reported revenue of $16.32 billion, showing a growth rate of 0.2%. The company's net margin stands at 11.09%, with a return on equity of 16.74%. Earnings per share were $2.09. The next earnings report is scheduled for July 28, 2026.
Dividend
Corning pays an annual dividend of $1.12, yielding 0.57%. The dividend payout ratio is 53.85%.
Insider Buying and Selling at Corning Incorporated
Recent insider transactions at Corning included several sales. On June 22, 2026, Michelle Gullo, Senior Vice President & CHRO, sold 18,378 shares at an average price of $209.83. On June 9, 2026, Wendell Weeks, Chairman, CEO, and President, sold 100,000 shares at $186.46 and bought 100,000 shares at $27.03. Jaymin Amin, SVP and Chief Technology Officer, sold 27,395 shares at $192.14 and bought 7,917 shares at $27.00 on May 22, 2026.
Analysts Set New Price Targets
On June 22, 2026, Truist Securities maintained a 'hold' rating with a $205 price target. UBS reiterated a 'buy' rating on June 5, 2026, with a target of $228. Mizuho maintained its 'buy' rating on May 12, 2026, setting a target at $220. The consensus among analysts is a 'buy' rating, with a mean target price of $198, based on 15 analyst opinions.
About Corning Incorporated
Corning Incorporated, headquartered in Corning, New York, operates in sectors such as optical communications, display, specialty materials, automotive, and life sciences. The company provides a wide range of products including optical fibers, glass substrates for displays, ceramics for emissions control, and laboratory products. Corning serves markets across the globe, including the United States, Asia, and Europe. Under the leadership of CEO Wendell P. Weeks, Corning employs approximately 67,200 people worldwide.
Bottom Line
National Pension Service's reduction in its Corning stake is a notable adjustment in its portfolio. Investors often track these filings to gauge institutional sentiment, though it's important to remember that 13F filings reflect past positions. Corning's diverse operations and its position in the technology sector continue to attract attention from both institutional investors and analysts.
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