WBH Advisory Inc. Has $397,000 Stock Position in Corning Incorporated $GLW

WBH Advisory Inc. increased its stake in shares of Corning Incorporated (NYSE:GLW) by 45.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,556 shares of the electronics maker’s stock after buying an additional 2,344 shares during the period. WBH Advisory Inc.’s holdings in Corning were worth $397,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Stephens Inc. AR lifted its position in Corning by 4.6% during the 2nd quarter. Stephens Inc. AR now owns 17,399 shares of the electronics maker’s stock worth $915,000 after buying an additional 768 shares in the last quarter. Beverly Hills Private Wealth LLC lifted its position in Corning by 9.5% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 32,138 shares of the electronics maker’s stock valued at $1,690,000 after purchasing an additional 2,776 shares during the period. Altus Wealth Group LLC acquired a new position in Corning during the 2nd quarter valued at about $217,000. Forvis Mazars Wealth Advisors LLC lifted its position in Corning by 3.8% during the 2nd quarter. Forvis Mazars Wealth Advisors LLC now owns 17,729 shares of the electronics maker’s stock valued at $932,000 after purchasing an additional 655 shares during the period. Finally, Chicago Partners Investment Group LLC lifted its position in Corning by 2.3% during the 2nd quarter. Chicago Partners Investment Group LLC now owns 44,704 shares of the electronics maker’s stock valued at $2,494,000 after purchasing an additional 1,001 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLW. Oppenheimer restated an “outperform” rating and set a $72.00 target price (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Barclays upped their target price on shares of Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Citigroup upped their target price on shares of Corning from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Wolfe Research started coverage on shares of Corning in a research report on Tuesday, July 8th. They set an “outperform” rating on the stock. Finally, Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Insider Buying and Selling at Corning

In related news, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the completion of the sale, the executive vice president directly owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the sale, the chief operating officer directly owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. The trade was a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock worth $11,816,899 in the last quarter. Company insiders own 0.32% of the company’s stock.

Corning Stock Performance

Shares of GLW stock opened at $85.31 on Tuesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The stock has a market cap of $73.08 billion, a PE ratio of 90.75, a price-to-earnings-growth ratio of 1.89 and a beta of 1.14. The stock has a 50-day moving average of $75.74 and a 200-day moving average of $59.06. Corning Incorporated has a one year low of $37.31 and a one year high of $87.78.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $3.84 billion. During the same period in the prior year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is presently 119.15%.

About Corning

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.