Mystic Asset Management Inc. Purchases Shares of 18,030 Corning Incorporated $GLW

Mystic Asset Management Inc. acquired a new position in Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 18,030 shares of the electronics maker’s stock, valued at approximately $4,605,000. Corning accounts for 1.0% of Mystic Asset Management Inc.’s holdings, making the stock its 28th biggest position.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in Corning in the 1st quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after purchasing an additional 5,522 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Corning in the 2nd quarter worth about $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in shares of Corning during the 2nd quarter valued at about $266,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the subject of a number of research reports. Mizuho decreased their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Truist Financial raised Corning from a “hold” rating to a “buy” rating and decreased their target price for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Finally, UBS Group restated a “buy” rating and set a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $174.08.

Corning Price Performance

Shares of GLW opened at $151.49 on Friday. Corning Incorporated has a twelve month low of $64.33 and a twelve month high of $271.78. The company has a market capitalization of $130.49 billion, a P/E ratio of 69.17, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. The firm has a 50 day moving average of $175.43 and a 200 day moving average of $163.44. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same period in the prior year, the firm posted $0.60 EPS. 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. As a group, equities research analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is presently 51.14%.

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction 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 sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Corning 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.