Brookstone Capital Management Increases Position in Corning Incorporated $GLW

Brookstone Capital Management increased its holdings in shares of Corning Incorporated (NYSE:GLW) by 74.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,055 shares of the electronics maker’s stock after purchasing an additional 8,156 shares during the quarter. Brookstone Capital Management’s holdings in Corning were worth $2,591,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. Capital Research Global Investors bought a new position in shares of Corning during the 3rd quarter valued at about $907,164,000. Norges Bank purchased a new stake in shares of Corning during the 4th quarter valued at about $921,435,000. Wellington Management Group LLP raised its position in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. Polar Capital Holdings Plc raised its holdings in Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after buying an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its stake in shares of Corning by 102.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after acquiring an additional 2,304,676 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were 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 in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last quarter. 0.25% of the stock is currently owned by insiders.

Corning Trading Up 6.1%

Corning stock opened at $205.91 on Thursday. The company has a market capitalization of $177.21 billion, a price-to-earnings ratio of 98.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15. Corning Incorporated has a 52 week low of $51.09 and a 52 week high of $217.09. The stock has a 50-day moving average price of $182.50 and a 200 day moving average price of $140.14. 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 posted its 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 $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, May 29th. Corning’s payout ratio is currently 53.59%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on GLW. UBS Group boosted their target price on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Truist Financial upped their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday. JPMorgan Chase & Co. boosted their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Mizuho increased their price target on shares of Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Finally, Susquehanna lifted their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

Corning 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.