Hartford Funds Management Co LLC Takes Position in Corning Incorporated $GLW

Hartford Funds Management Co LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,849 shares of the electronics maker’s stock, valued at approximately $1,204,000.

Several other institutional investors and hedge funds also recently bought and sold shares of GLW. Calamos Wealth Management LLC acquired a new stake in shares of Corning during the 1st quarter worth approximately $354,000. Calamos Advisors LLC acquired a new position in Corning in the first quarter valued at approximately $354,000. Retirement Planning Group LLC lifted its holdings in Corning by 4.1% in the first quarter. Retirement Planning Group LLC now owns 3,469 shares of the electronics maker’s stock valued at $472,000 after acquiring an additional 138 shares during the last quarter. Sterling Group Wealth Management LLC purchased a new position in Corning in the first quarter worth approximately $203,000. Finally, Bleakley Financial Group LLC grew its position in Corning by 70.8% in the first quarter. Bleakley Financial Group LLC now owns 39,109 shares of the electronics maker’s stock worth $5,318,000 after acquiring an additional 16,218 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Price Performance

GLW stock opened at $183.14 on Tuesday. The business’s fifty day moving average price is $193.56 and its 200 day moving average price is $151.06. Corning Incorporated has a 12-month low of $51.32 and a 12-month high of $271.78. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $157.62 billion, a PE ratio of 87.63, a P/E/G ratio of 2.50 and a beta of 1.09.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s payout ratio is 53.59%.

Insider Activity

In other news, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,655 shares of company stock worth $30,692,560 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. Bank of America lifted their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Citigroup boosted their price objective on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a report on Monday. Finally, Oppenheimer upped their target price on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $194.69.

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.