Trillium Asset Management LLC Buys Shares of 5,010 Corning Incorporated $GLW

Trillium Asset Management LLC purchased a new stake in Corning Incorporated (NYSE:GLW) in the second quarter, HoldingsChannel reports. The firm purchased 5,010 shares of the electronics maker’s stock, valued at approximately $1,280,000.

Several other hedge funds also recently bought and sold shares of the company. Atwood & Palmer Inc. bought a new position in shares of Corning during the 2nd quarter valued at about $26,000. First Community Trust NA bought a new position in Corning during the second quarter worth $72,000. N.E.W. Advisory Services LLC acquired a new stake in Corning in the 2nd quarter worth about $76,000. Berbice Capital Management LLC acquired a new stake in Corning during the fourth quarter worth about $26,000. Finally, Basepoint Wealth LLC bought a new position in Corning in the fourth quarter valued at about $26,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently issued reports on GLW. Bank of America raised their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. JPMorgan Chase & Co. cut their target price on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Susquehanna boosted their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Trading Down 1.0%

NYSE GLW opened at $149.91 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $174.83 and a 200 day simple moving average of $163.35. Corning Incorporated has a 12 month low of $65.09 and a 12 month high of $271.78. The firm has a market capitalization of $129.13 billion, a P/E ratio of 68.45, a PEG ratio of 1.94 and a beta of 1.14.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts predict that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid 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%.

Insider Activity

In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was 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. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

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.