Trivest Advisors Ltd bought a new position in Corning Incorporated (NYSE:GLW – Free Report) in the first quarter, HoldingsChannel reports. The institutional investor bought 169,200 shares of the electronics maker’s stock, valued at approximately $23,006,000. Corning accounts for approximately 1.7% of Trivest Advisors Ltd’s holdings, making the stock its 12th biggest holding.
Several other hedge funds have also recently modified their holdings of the business. Berbice Capital Management LLC purchased a new stake in shares of Corning during the fourth quarter valued at $26,000. Basepoint Wealth LLC bought a new stake in Corning in the 4th quarter worth about $26,000. MBM Wealth Consultants LLC purchased a new position in Corning in the 1st quarter worth about $42,000. Kemnay Advisory Services Inc. purchased a new position in Corning in the 4th quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in Corning during the 4th quarter valued at about $31,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.
Analyst Upgrades and Downgrades
GLW has been the topic of a number of recent analyst reports. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a report on Saturday. JPMorgan Chase & Co. boosted their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. UBS Group set a $243.00 price objective on shares of Corning in a research report on Monday, July 6th. Mizuho raised their target price on shares of Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.69.
Corning Trading Down 0.1%
Shares of NYSE:GLW opened at $154.47 on Monday. The stock has a market capitalization of $132.94 billion, a price-to-earnings ratio of 73.91, a PEG ratio of 2.03 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The stock’s 50-day simple moving average is $192.81 and its two-hundred day simple moving average is $153.30. Corning Incorporated has a 52-week low of $53.29 and a 52-week high of $271.78.
Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm earned $0.54 EPS. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts expect that Corning Incorporated will post 3.18 EPS for the current year.
Corning Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is 53.59%.
Insider Buying and Selling at Corning
In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning 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 transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 in the last quarter. Insiders own 0.25% of the company’s stock.
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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