Corning Incorporated $GLW Shares Sold by HB Wealth Management LLC

HB Wealth Management LLC decreased its holdings in Corning Incorporated (NYSE:GLW) by 9.3% in the 2nd quarter, HoldingsChannel reports. The firm owned 65,576 shares of the electronics maker’s stock after selling 6,725 shares during the quarter. HB Wealth Management LLC’s holdings in Corning were worth $16,750,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Berbice Capital Management LLC acquired a new stake in Corning in the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in Corning during the 4th quarter valued at about $26,000. Atwood & Palmer Inc. bought a new stake in shares of Corning during the 2nd quarter worth about $26,000. Rogco LP bought a new stake in shares of Corning during the 2nd quarter worth about $27,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Corning in the 4th quarter worth approximately $27,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Wendell Weeks sold 100,000 shares of the business’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 of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Lewis A. Steverson sold 13,100 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

GLW has been the subject of several recent analyst reports. Morgan Stanley decreased their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Mizuho dropped their target price on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. UBS Group reaffirmed a “buy” rating and set a $196.00 price target on shares of Corning in a research note on Wednesday, July 29th. Finally, Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Performance

NYSE:GLW opened at $154.22 on Friday. The company has a 50-day moving average of $164.74 and a 200-day moving average of $165.17. The firm has a market cap of $132.84 billion, a price-to-earnings ratio of 70.42, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a twelve month low of $70.06 and a twelve month high of $271.78.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the firm earned $0.60 EPS. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

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

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.