Beverly Hills Private Wealth LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW – Free Report) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 7,864 shares of the electronics maker’s stock, valued at approximately $2,009,000.
Several other hedge funds and other institutional investors have also bought and sold shares of the business. Berbice Capital Management LLC purchased a new stake in shares of Corning during the 4th quarter valued at $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning during the 4th quarter worth $26,000. Atwood & Palmer Inc. purchased a new position in shares of Corning in the 2nd quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Corning in the 4th quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in Corning during the fourth quarter valued at about $31,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.
Insider Buying and Selling at Corning
In other news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction dated Friday, May 22nd. The shares were 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 of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’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 of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by insiders.
Corning Stock Performance
Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings data 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. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period in the previous year, the business earned $0.60 EPS. Corning’s revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current year.
Corning Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 annualized dividend and a dividend yield of 0.7%. Corning’s payout ratio is 51.14%.
Analysts Set New Price Targets
A number of analysts recently issued reports on GLW shares. Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Susquehanna boosted their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Bank of America increased their target price on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Mizuho decreased their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Finally, Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $174.08.
Read Our Latest Stock Report on GLW
About Corning
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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