Bleakley Financial Group LLC Has $964,000 Stock Position in Corning Incorporated $GLW

Bleakley Financial Group LLC raised its stake in Corning Incorporated (NYSE:GLW) by 10.8% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 18,329 shares of the electronics maker’s stock after acquiring an additional 1,786 shares during the period. Bleakley Financial Group LLC’s holdings in Corning were worth $964,000 as of its most recent SEC filing.

Several other large investors also recently made changes to their positions in GLW. Forte Capital LLC ADV lifted its position in Corning by 2.4% in the 2nd quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock valued at $419,000 after acquiring an additional 190 shares in the last quarter. Smith Salley Wealth Management raised its stake in shares of Corning by 3.3% in the 2nd quarter. Smith Salley Wealth Management now owns 6,280 shares of the electronics maker’s stock valued at $330,000 after purchasing an additional 200 shares during the period. Leigh Baldwin & CO. LLC boosted its position in shares of Corning by 1.7% during the first quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker’s stock worth $573,000 after buying an additional 210 shares during the period. Envestnet Portfolio Solutions Inc. boosted its position in shares of Corning by 1.3% during the second quarter. Envestnet Portfolio Solutions Inc. now owns 16,623 shares of the electronics maker’s stock worth $874,000 after buying an additional 214 shares during the period. Finally, Old North State Wealth Management LLC grew its holdings in shares of Corning by 0.5% during the second quarter. Old North State Wealth Management LLC now owns 40,325 shares of the electronics maker’s stock worth $2,121,000 after buying an additional 218 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Stock Up 1.9%

Corning stock opened at $87.46 on Friday. 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 company’s 50-day moving average is $77.36 and its 200-day moving average is $60.22. The firm has a market capitalization of $74.92 billion, a PE ratio of 93.04, a P/E/G ratio of 1.95 and a beta of 1.14. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter last year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the company. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a research report on Friday. JPMorgan Chase & Co. increased their target price on shares of Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a report on Friday, July 25th. Wall Street Zen lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Oppenheimer reissued an “outperform” rating and set a $72.00 price target (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Finally, Argus restated a “buy” rating and issued a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $73.00.

Insiders Place Their Bets

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the completion of the sale, the senior vice president owned 88,722 shares of the company’s stock, valued at $6,847,563.96. This trade represents a 16.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the transaction, the chief operating officer owned 64,838 shares in the company, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock worth $11,816,899 in the last quarter. Company insiders own 0.40% of the company’s stock.

Corning Profile

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.