Patriot Financial Group Insurance Agency LLC Acquires Shares of 3,604 Corning Incorporated $GLW

Patriot Financial Group Insurance Agency LLC acquired a new stake in Corning Incorporated (NYSE:GLW) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 3,604 shares of the electronics maker’s stock, valued at approximately $490,000.

A number of other hedge funds also recently modified their holdings of GLW. Caldwell Trust Co lifted its position in Corning by 0.5% during the first quarter. Caldwell Trust Co now owns 15,893 shares of the electronics maker’s stock worth $2,161,000 after acquiring an additional 74 shares during the last quarter. KRS Capital Management LLC grew its position in shares of Corning by 2.2% in the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock valued at $552,000 after purchasing an additional 88 shares during the last quarter. Sheets Smith Wealth Management grew its position in shares of Corning by 2.1% in the first quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock valued at $605,000 after purchasing an additional 90 shares during the last quarter. Beese Fulmer Investment Management Inc. increased its stake in shares of Corning by 2.5% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after purchasing an additional 92 shares during the period. Finally, 3Chopt Investment Partners LLC lifted its holdings in Corning by 1.0% during the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after purchasing an additional 97 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Mizuho raised its price target on Corning to $270 from $220 and kept an outperform rating, signaling further upside from recent levels and reinforcing bullish sentiment around the stock. Mizuho raises Corning price target
• Positive Sentiment: Recent commentary highlights Corning’s strength in data center growth, which is supporting demand for its optical communications and specialty glass products and helping explain the stock’s move to record highs.
• Positive Sentiment: Corning’s addition to the Russell Growth indexes could broaden ownership among growth-focused funds and ETFs, potentially creating incremental demand for shares. Corning joins Russell Growth Indexes
• Positive Sentiment: Investors also remain focused on Corning’s recent dividend-related momentum and strong stock performance, which has kept the name on market screens for momentum and income buyers. Corning sets date for new dividend
• Neutral Sentiment: Analyst coverage updates and general commentary from recent market articles suggest Corning remains a closely watched large-cap technology materials name, but no major new operational change was disclosed in those notes. Analysts offer insights on Corning
• Negative Sentiment: Some recent coverage warns that after a steep multi-month advance, valuation and execution risks are increasing, which could limit near-term upside or trigger profit-taking.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on GLW shares. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Citigroup increased their price objective on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. UBS Group lifted their target price on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Bank of America upped their price target on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $186.46.

Corning Price Performance

Corning stock opened at $220.72 on Thursday. The stock’s fifty day moving average price is $189.43 and its two-hundred day moving average price is $145.27. Corning Incorporated has a one year low of $51.32 and a one year high of $271.78. 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 firm has a market cap of $189.96 billion, a PE ratio of 105.61, a price-to-earnings-growth ratio of 3.65 and a beta of 1.09.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm 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%.The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

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

Insider Activity

In related news, 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 transaction of $4,124,600.00. Following the sale, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 160,655 shares of company stock valued at $30,692,560. Company insiders own 0.25% of the company’s stock.

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.