Corient Private Wealth LP Sells 9,805 Shares of Corning Incorporated $GLW

Corient Private Wealth LP reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 3.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 278,000 shares of the electronics maker’s stock after selling 9,805 shares during the period. Corient Private Wealth LP’s holdings in Corning were worth $71,015,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Perennial Investment Advisors LLC acquired a new position in shares of Corning in the second quarter valued at approximately $1,253,000. Atalan Capital Partners LP bought a new stake in shares of Corning during the second quarter worth $152,568,000. Ausdal Financial Partners Inc. raised its holdings in shares of Corning by 20.3% during the second quarter. Ausdal Financial Partners Inc. now owns 11,029 shares of the electronics maker’s stock worth $2,817,000 after acquiring an additional 1,861 shares during the period. Bank of America Corp DE raised its holdings in shares of Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock worth $4,784,361,000 after acquiring an additional 4,231,507 shares during the period. Finally, Berkshire Capital Holdings Inc. raised its holdings in shares of Corning by 3.0% during the second quarter. Berkshire Capital Holdings Inc. now owns 88,230 shares of the electronics maker’s stock worth $22,537,000 after acquiring an additional 2,540 shares during the period. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of GLW stock opened at $152.76 on Thursday. Corning Incorporated has a 12 month low of $66.14 and a 12 month high of $271.78. The company’s fifty day simple moving average is $172.96 and its 200-day simple moving average is $164.50. The firm has a market cap of $131.59 billion, a PE ratio of 69.75, a P/E/G ratio of 1.88 and a beta of 1.14. 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 released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts expect that Corning Incorporated will post 3.27 EPS 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 paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is currently 51.14%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GLW shares. UBS Group reaffirmed a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Barclays cut their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Truist Financial raised Corning from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Finally, Oppenheimer decreased their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.08.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by insiders.

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.