Clear Harbor Asset Management LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW – Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 8,270 shares of the electronics maker’s stock, valued at approximately $2,112,000.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its stake in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. bought a new position in Corning during the 1st quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after acquiring an additional 5,522 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Corning in the second quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in shares of Corning in the second quarter valued at about $266,000. Institutional investors and hedge funds own 69.80% of the company’s stock.
Analyst Upgrades and Downgrades
Several analysts have weighed in on GLW shares. Bank of America lifted their price objective on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Citigroup decreased their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and dropped their price target for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Morgan Stanley cut their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Finally, Susquehanna increased 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. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $174.08.
Insider Buying and Selling at Corning
In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 0.25% of the company’s stock.
Corning Stock Down 1.0%
Shares of NYSE GLW opened at $149.91 on Friday. The company has a market cap of $129.13 billion, a price-to-earnings ratio of 68.45, a PEG ratio of 1.92 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $65.09 and a 12 month high of $271.78. The stock has a 50-day moving average price of $174.83 and a two-hundred day moving average price of $163.35.
Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company 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 firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.
Corning Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is currently 51.14%.
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.
Featured Stories
- Five stocks we like better than Corning
- 2 Biotech Stocks Shaping Up for Major Breakouts
- 3 Stocks Came Roaring Back—Now They’re Flashing Warning Signs
- 3 Beaten-Down Stocks That Haven’t Gotten the Message About the S&P 500’s Record Run
- Darden Restaurants Just Hit a 52-Week High–Is the Olive Garden Comeback Story Legit?
Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.
