Kwmg LLC Has $28.48 Million Holdings in Corning Incorporated $GLW

Kwmg LLC decreased its stake in Corning Incorporated (NYSE:GLW) by 4.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 111,488 shares of the electronics maker’s stock after selling 5,531 shares during the quarter. Corning accounts for about 2.1% of Kwmg LLC’s portfolio, making the stock its 14th largest position. Kwmg LLC’s holdings in Corning were worth $28,477,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Berbice Capital Management LLC bought a new stake in shares of Corning in the 4th quarter valued at about $26,000. Basepoint Wealth LLC acquired a new position in Corning during the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning in the fourth quarter valued at approximately $27,000. Litman Gregory Wealth Management LLC bought a new stake in Corning in the fourth quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. raised its holdings in Corning by 58.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 141 shares during the period. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last ninety days. Insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

GLW has been the topic of a number of recent analyst reports. Susquehanna lifted their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. UBS Group reissued a “buy” rating and set a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Morgan Stanley dropped their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Oppenheimer reduced their price target on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, Wall Street Zen raised shares of Corning from a “buy” rating to a “strong-buy” rating in a research report on Saturday. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Price Performance

Shares of GLW opened at $165.65 on Friday. The stock has a market capitalization of $142.69 billion, a P/E ratio of 75.64, a P/E/G ratio of 2.01 and a beta of 1.14. Corning Incorporated has a twelve month low of $63.37 and a twelve month high of $271.78. The company has a 50 day moving average of $179.73 and a 200-day moving average of $159.07. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s payout ratio is currently 51.14%.

About Corning

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.