Meadowbrook Wealth Management LLC Acquires Shares of 7,642 Corning Incorporated $GLW

Meadowbrook Wealth Management LLC bought a new position in shares of Corning Incorporated (NYSE:GLW) in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 7,642 shares of the electronics maker’s stock, valued at approximately $627,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ridgepath Capital Management LLC acquired a new position in Corning during the third quarter worth $292,000. Compton Wealth Advisory Group LLC purchased a new stake in shares of Corning during the third quarter worth about $209,000. Central Bank & Trust Co. raised its position in shares of Corning by 42.1% during the 3rd quarter. Central Bank & Trust Co. now owns 14,572 shares of the electronics maker’s stock worth $1,195,000 after purchasing an additional 4,315 shares during the last quarter. Franklin Street Advisors Inc. NC purchased a new position in Corning in the 3rd quarter valued at about $252,000. Finally, Redhawk Wealth Advisors Inc. acquired a new stake in Corning in the 3rd quarter worth about $288,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Barclays boosted their price target on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Argus increased their price objective on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Oppenheimer set a $100.00 target price on shares of Corning and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Finally, Mizuho set a $97.00 target price on shares of Corning in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $93.09.

Insider Activity

In related news, insider Eric S. Musser sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the completion of the transaction, the insider directly owned 44,926 shares in the company, valued at approximately $4,050,977.42. This represents a 69.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stefan Becker sold 12,100 shares of Corning stock in a transaction on Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total value of $1,104,488.00. Following the completion of the sale, the senior vice president owned 5,049 shares in the company, valued at $460,872.72. This represents a 70.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 156,135 shares of company stock worth $14,088,769. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Up 1.1%

Shares of NYSE:GLW opened at $87.81 on Friday. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $96.64. The stock has a market cap of $75.28 billion, a P/E ratio of 55.58, a PEG ratio of 1.90 and a beta of 1.11. The business has a fifty day moving average of $85.94 and a two-hundred day moving average of $71.50. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company posted $0.54 EPS. The company’s revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 14th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.3%. The ex-dividend date was Friday, November 14th. Corning’s payout ratio is presently 70.89%.

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.