42,298 Shares in Corning Incorporated $GLW Acquired by Royal Palms Capital LLC

Royal Palms Capital LLC bought a new position in shares of Corning Incorporated (NYSE:GLW) in the 4th quarter, Holdings Channel.com reports. The institutional investor bought 42,298 shares of the electronics maker’s stock, valued at approximately $3,704,000. Corning makes up 4.4% of Royal Palms Capital LLC’s portfolio, making the stock its 7th largest holding.

Several other hedge funds and other institutional investors have also modified their holdings of GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Corning during the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC bought a new position in shares of Corning during the 4th quarter worth approximately $26,000. Strengthening Families & Communities LLC bought a new position in shares of Corning during the 3rd quarter worth approximately $27,000. Cornerstone Planning Group LLC lifted its position in shares of Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after buying an additional 124 shares during the period. Finally, JPL Wealth Management LLC acquired a new stake in Corning during the 3rd quarter valued at $33,000. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 198,169 shares of company stock worth $33,412,111. 0.25% of the stock is currently owned by company insiders.

Corning Stock Up 1.3%

NYSE GLW opened at $196.64 on Wednesday. The stock has a fifty day moving average of $164.19 and a 200-day moving average of $124.80. The stock has a market capitalization of $169.24 billion, a P/E ratio of 94.09, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14. Corning Incorporated has a 52 week low of $48.62 and a 52 week high of $211.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.35 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 business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders 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 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is 53.59%.

Wall Street Analyst Weigh In

GLW has been the subject of a number of recent analyst reports. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Susquehanna raised their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Fox Advisors cut Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Zacks Research raised Corning from a “hold” rating to a “strong-buy” rating in a report on Monday, April 27th. Finally, Barclays raised their price target on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $177.92.

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.