4,797 Shares in Corning Incorporated $GLW Bought by Wealth Effects LLC

Wealth Effects LLC bought a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 4,797 shares of the electronics maker’s stock, valued at approximately $1,225,000.

Several other hedge funds have also modified their holdings of GLW. Berbice Capital Management LLC purchased a new position in Corning in the 4th quarter worth about $26,000. Basepoint Wealth LLC purchased a new stake in Corning during the fourth quarter valued at about $26,000. Atwood & Palmer Inc. purchased a new stake in Corning during the second quarter valued at about $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning in the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in shares of Corning in the fourth quarter worth about $31,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the 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 completion of the sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.25% of the company’s stock.

Corning Price Performance

NYSE GLW opened at $165.85 on Monday. The company has a 50 day simple moving average of $176.82 and a 200-day simple moving average of $161.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The firm has a market capitalization of $142.86 billion, a price-to-earnings ratio of 75.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. Corning Incorporated has a 52-week low of $63.37 and a 52-week high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period 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. Equities research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. 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 dividend payout ratio (DPR) is 51.14%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Susquehanna boosted their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Citigroup decreased their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Mizuho lowered their price objective on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Oppenheimer cut their target price on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Finally, Wall Street Zen lowered Corning from a “strong-buy” rating to a “buy” rating in a report on Sunday. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.08.

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.