Summitry LLC Takes Position in Corning Incorporated $GLW

Posted by George Bondi on Aug 1st, 2026

Summitry LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW – Free Report) in the first quarter, Holdings Channel.com reports. The institutional investor purchased 196,710 shares of the electronics maker’s stock, valued at approximately $26,747,000.

A number of other institutional investors have also recently bought and sold shares of the business. Berbice Capital Management LLC bought a new stake in Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new position in shares of Corning during the 4th quarter worth approximately $26,000. MBM Wealth Consultants LLC bought a new position in shares of Corning during the 1st quarter worth approximately $42,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the 4th quarter worth approximately $27,000. Finally, IMG Wealth Management Inc. acquired a new position in shares of Corning during the 1st quarter worth approximately $43,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

NYSE:GLW opened at $138.54 on Friday. The stock has a 50 day simple moving average of $182.92 and a 200 day simple moving average of $156.75. The stock has a market cap of $119.34 billion, a P/E ratio of 63.26, a PEG ratio of 1.74 and a beta of 1.09. Corning Incorporated has a 1-year low of $61.44 and a 1-year high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.06 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW – Get Free Report) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts anticipate that Corning Incorporated will post 3.25 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio is 51.14%.

Wall Street Analyst Weigh In

GLW has been the subject of several research reports. Barclays cut their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Morgan Stanley dropped their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Bank of America raised their target price 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. Finally, JPMorgan Chase & Co. reduced their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday. Nine investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus price target of $176.38.

Read Our Latest Stock Analysis on Corning

Corning News Roundup

Here are the key news stories impacting Corning this week:

Positive Sentiment: AI-driven optical growth is supporting the rebound. Second-quarter core sales rose 17% year over year to $4.74 billion, while core EPS increased 30% to $0.78. Optical Communications sales jumped 32% to $2.07 billion, helped by enterprise-network demand tied to artificial-intelligence infrastructure. Multiyear partnerships with Amazon and NVIDIA, along with Corning’s $10 billion photonics ambition, are reinforcing the long-term growth narrative. Why Corning Incorporated Stock Is Up Today
Positive Sentiment: Management’s near-term outlook remains healthy. Corning guided for third-quarter core sales of $4.9 billion to $5.0 billion and core EPS of $0.85 to $0.89. Stronger cash flow, rising earnings estimates and expectations for accelerating growth under the extended Springboard plan are supporting investor confidence. Corning Rides AI Data Center Growth as Optical Demand Accelerates
Neutral Sentiment: Solar and photonics expansion remain execution-dependent. Investors are watching whether Corning can convert rapidly rising solar sales into sustainable profitability while also funding U.S. expansion and meeting its ambitious photonics targets. Corning Growth Outlook Hinges on AI Optics and Solar Profitability
Negative Sentiment: Valuation and market skepticism remain risks. After its AI-led rally, GLW trades at a premium valuation, leaving less room for execution mistakes. Analysts at JPMorgan and Citigroup issued cautious views, while the earlier selloff reflected concerns that third-quarter guidance implied slower growth against difficult comparisons. Is GLW Stock Attractive After Its AI Rally and Earnings Momentum?
Negative Sentiment: Insider selling is a sentiment headwind. Company insiders reportedly made 14 open-market sales and no purchases during the past six months, including sales by CEO Wendell Weeks and other senior executives.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated 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 completion of the sale, 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 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. Company insiders own 0.25% of the company’s stock.

Corning Company Profile

(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.