Corning Incorporated $GLW Stock Acquired by Contravisory Investment Management Inc.

Contravisory Investment Management Inc. boosted its position in Corning Incorporated (NYSE:GLW) by 46.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,941 shares of the electronics maker’s stock after purchasing an additional 3,491 shares during the quarter. Contravisory Investment Management Inc.’s holdings in Corning were worth $1,682,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLW. Herbst Group LLC bought a new stake in shares of Corning during the 2nd quarter valued at $4,474,000. Principal Financial Group Inc. grew its holdings in shares of Corning by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after purchasing an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC grew its holdings in shares of Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares in the last quarter. Silverlake Wealth Management LLC bought a new position in shares of Corning in the second quarter worth $1,872,000. Finally, Atlas Wealth LLC increased its position in shares of Corning by 137.8% in the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after purchasing an additional 6,998 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the company. Truist Financial boosted their price target on Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Oppenheimer reduced their price objective 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. Barclays reduced their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. China Renaissance raised shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 target price on the stock in a report on Tuesday, September 8th. Finally, JPMorgan Chase & Co. dropped their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.56.

Corning Price Performance

NYSE:GLW traded up $1.24 during trading hours on Tuesday, hitting $148.52. The company’s stock had a trading volume of 7,344,179 shares, compared to its average volume of 12,000,058. The stock has a fifty day simple moving average of $155.78 and a 200-day simple moving average of $168.86. The company has a market capitalization of $127.93 billion, a P/E ratio of 67.82, a PEG ratio of 2.00 and a beta of 1.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%. The business’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts anticipate that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Friday, November 13th. Corning’s dividend payout ratio is currently 51.14%.

Insider Buying and Selling

In related news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction that occurred 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 completion of the transaction, the executive vice president owned 15,052 shares of the company’s stock, valued at $2,277,217.08. This represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by insiders.

Corning Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.