Lewis Asset Management LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW – Free Report) during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 3,197 shares of the electronics maker’s stock, valued at approximately $435,000.
Several other hedge funds and other institutional investors have also bought and sold shares of GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Corning during the third quarter worth approximately $25,000. Berbice Capital Management LLC bought a new stake in shares of Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning during the fourth quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in Corning during the 4th quarter worth $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.
Wall Street Analyst Weigh In
GLW has been the subject of several analyst reports. Oppenheimer lifted their price objective on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Susquehanna raised their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Citigroup upped their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Finally, Truist Financial boosted their target price on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $182.62.
Insider Activity at Corning
In other Corning news, SVP Jaymin Amin sold 27,395 shares of the business’s 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 sale, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 in the last ninety days. Insiders own 0.25% of the company’s stock.
Corning Price Performance
Corning stock opened at $223.00 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a 52 week low of $51.32 and a 52 week high of $230.50. The stock has a market capitalization of $191.92 billion, a P/E ratio of 106.70, a price-to-earnings-growth ratio of 3.26 and a beta of 1.15. The stock has a fifty day moving average of $184.70 and a 200-day moving average of $141.72.
Corning (NYSE:GLW – Get Free Report) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.
Corning Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. Corning’s payout ratio is 53.59%.
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.
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