Foresight Capital Management Advisors Inc. Has $10.46 Million Stake in Corning Incorporated $GLW

Foresight Capital Management Advisors Inc. lowered its position in Corning Incorporated (NYSE:GLW) by 9.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 40,934 shares of the electronics maker’s stock after selling 4,441 shares during the quarter. Corning comprises approximately 5.1% of Foresight Capital Management Advisors Inc.’s investment portfolio, making the stock its biggest holding. Foresight Capital Management Advisors Inc.’s holdings in Corning were worth $10,456,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. UNICOM Systems Inc. acquired a new stake in Corning in the 2nd quarter valued at approximately $13,614,000. First Heartland Consultants Inc. acquired a new position in Corning during the 2nd quarter worth $320,000. OFS Enterprise LLC bought a new position in shares of Corning in the second quarter worth $211,000. FNY Investment Advisers LLC bought a new position in shares of Corning in the second quarter worth $975,000. Finally, Cooper Financial Group increased its holdings in shares of Corning by 9.7% during the second quarter. Cooper Financial Group now owns 9,486 shares of the electronics maker’s stock valued at $2,423,000 after purchasing an additional 837 shares during the period. 69.80% of the stock is owned by institutional investors.

Corning Stock Up 5.4%

NYSE GLW opened at $165.65 on Friday. Corning Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78. The company has a market capitalization of $142.69 billion, a P/E ratio of 75.64, a PEG ratio of 2.01 and a beta of 1.14. The company’s 50 day simple moving average is $179.73 and its 200 day simple moving average is $159.07. 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 (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts expect 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. Investors of record on Monday, August 31st will be issued a $0.28 dividend. 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 payout ratio is presently 51.14%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GLW shares. Oppenheimer reduced their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Morgan Stanley dropped their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and decreased their price objective for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Bank of America boosted their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Insider Activity at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% 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, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Corning 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.