Graves Light Lenhart Wealth Inc. Makes New Investment in Corning Incorporated $GLW

Graves Light Lenhart Wealth Inc. acquired a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, Holdings Channel reports. The fund acquired 4,673 shares of the electronics maker’s stock, valued at approximately $246,000.

A number of other hedge funds have also recently bought and sold shares of the company. Leigh Baldwin & CO. LLC boosted its holdings in Corning by 1.7% during the 1st quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker’s stock worth $573,000 after acquiring an additional 210 shares during the last quarter. University of Texas Texas AM Investment Management Co. boosted its holdings in Corning by 9.7% during the 4th quarter. University of Texas Texas AM Investment Management Co. now owns 2,422 shares of the electronics maker’s stock worth $115,000 after acquiring an additional 214 shares during the last quarter. Harbour Investments Inc. boosted its holdings in Corning by 2.4% during the 1st quarter. Harbour Investments Inc. now owns 9,489 shares of the electronics maker’s stock worth $434,000 after acquiring an additional 224 shares during the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Corning by 4.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,961 shares of the electronics maker’s stock worth $227,000 after purchasing an additional 224 shares during the period. Finally, Old North State Wealth Management LLC raised its stake in shares of Corning by 0.6% during the 1st quarter. Old North State Wealth Management LLC now owns 40,107 shares of the electronics maker’s stock worth $1,836,000 after purchasing an additional 239 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Trading Up 1.0%

Shares of GLW opened at $78.74 on Wednesday. The business’s 50-day moving average price is $63.79 and its 200-day moving average price is $52.89. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $78.81. The stock has a market cap of $67.45 billion, a PE ratio of 83.77, a P/E/G ratio of 1.75 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the previous year, the firm earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 annualized dividend and a yield of 1.4%. Corning’s dividend payout ratio is currently 119.15%.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on Corning in a research note on Tuesday, July 8th. They set an “outperform” rating on the stock. Oppenheimer reiterated an “outperform” rating and set a $72.00 target price (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Mizuho lifted their target price on Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Morgan Stanley set a $56.00 target price on Corning and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Finally, Susquehanna reiterated a “positive” rating and set a $75.00 target price (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $66.75.

Insiders Place Their Bets

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the sale, the executive vice president owned 39,759 shares of the company’s stock, valued at $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward A. Schlesinger sold 14,082 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total value of $877,026.96. Following the sale, the chief financial officer directly owned 78,316 shares of the company’s stock, valued at approximately $4,877,520.48. This trade represents a 15.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,950 shares of company stock valued at $10,449,192 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.