Corning Incorporated $GLW Shares Acquired by Focus Partners Wealth

Focus Partners Wealth grew its holdings in Corning Incorporated (NYSE:GLWFree Report) by 47.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,102,285 shares of the electronics maker’s stock after purchasing an additional 355,985 shares during the period. Focus Partners Wealth’s holdings in Corning were worth $94,039,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also modified their holdings of the business. Berbice Capital Management LLC acquired a new position in Corning during the 4th quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in Corning during the 4th quarter worth about $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning during the 3rd quarter worth about $25,000. Litman Gregory Wealth Management LLC acquired a new position in Corning during the 4th quarter worth about $31,000. Finally, Evolution Wealth Management Inc. lifted its stake in Corning by 58.8% during the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 141 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

GLW stock opened at $179.85 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a market capitalization of $154.79 billion, a P/E ratio of 86.05, a P/E/G ratio of 2.56 and a beta of 1.15. The business’s 50-day moving average is $177.15 and its two-hundred day moving average is $134.03. Corning Incorporated has a 1 year low of $49.47 and a 1 year high of $211.79.

Corning (NYSE:GLWGet Free Report) last posted its quarterly 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 company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts anticipate 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 Monday, June 29th. Shareholders of record on Friday, May 29th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Insider Buying and Selling

In other news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock worth $30,692,561 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Citigroup increased their target price on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Barclays increased their target price on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $178.31.

View Our Latest Stock Analysis on Corning

About Corning

(Free Report)

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.

See Also

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Institutional Ownership by Quarter for Corning (NYSE:GLW)

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