Simplicity Wealth LLC Takes Position in Corning Incorporated $GLW

Simplicity Wealth LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 5,909 shares of the electronics maker’s stock, valued at approximately $1,509,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wealth Effects LLC bought a new stake in Corning during the second quarter worth about $1,225,000. Trivium Point Advisory LLC bought a new position in Corning in the second quarter valued at approximately $859,000. N.E.W. Advisory Services LLC bought a new position in Corning in the second quarter valued at approximately $76,000. HBK Sorce Advisory LLC acquired a new position in Corning during the second quarter valued at approximately $1,162,000. Finally, Abbot Financial Management Inc. acquired a new stake in shares of Corning in the 2nd quarter valued at $10,212,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity

In related news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale 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 Corning stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

GLW has been the topic of a number of recent analyst reports. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Mizuho dropped their target price on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. UBS Group reiterated a “buy” rating and set a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. Barclays lowered their price target on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Finally, Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Trading Down 0.1%

NYSE GLW opened at $165.85 on Monday. The firm has a market capitalization of $142.86 billion, a PE ratio of 75.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. The business’s 50-day moving average price is $176.82 and its two-hundred day moving average price is $161.92. 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 12 month low of $63.37 and a 12 month high of $271.78.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts expect that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

The firm 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 51.14%.

About Corning

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.