Ritholtz Wealth Management Has $1.48 Million Stock Holdings in Corning Incorporated $GLW

Ritholtz Wealth Management lifted its position in shares of Corning Incorporated (NYSE:GLW) by 118.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,871 shares of the electronics maker’s stock after purchasing an additional 5,905 shares during the quarter. Ritholtz Wealth Management’s holdings in Corning were worth $1,478,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the 3rd quarter worth $25,000. Berbice Capital Management LLC acquired a new position in Corning in the fourth quarter valued at about $26,000. Basepoint Wealth LLC acquired a new position in Corning in the fourth quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning in the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in shares of Corning in the fourth quarter worth about $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analysts Set New Price Targets

GLW has been the topic of several recent analyst reports. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Oppenheimer lifted their price target on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Citigroup upped their price target on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Finally, Truist Financial increased their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average price target of $182.62.

Corning Stock Down 2.2%

GLW stock opened at $223.00 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market capitalization of $191.92 billion, a P/E ratio of 106.70, a P/E/G ratio of 3.16 and a beta of 1.15. The business has a 50-day moving average of $184.70 and a 200-day moving average of $141.72. Corning Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $230.50.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 the consensus estimate 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% on a year-over-year basis. 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 anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 53.59%.

Insider Transactions at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of the company’s 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 in the company, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by insiders.

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.