12,176 Shares in Corning Incorporated $GLW Purchased by Williamson Legacy Group LLC

Key Points

• Williamson Legacy Group LLC opened a new position in Corning, buying 12,176 shares valued at about $1.07 million in the fourth quarter.
• Institutional interest in Corning remained strong, with several other funds increasing holdings and institutions/hedge funds now owning 69.8% of the company.
• Wall Street sentiment is broadly positive: Corning has an average “Moderate Buy” rating and a consensus target price of $177.92, while the stock recently traded near $196.64 after a strong earnings report.

Williamson Legacy Group LLC purchased a new position in Corning Incorporated (NYSE:GLW - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 12,176 shares of the electronics maker's stock, valued at approximately $1,066,000.

A number of other large investors also recently bought and sold shares of the business. Roundview Capital LLC acquired a new position in shares of Corning during the fourth quarter valued at approximately $462,000. Integrity Alliance LLC. raised its holdings in shares of Corning by 888.6% during the fourth quarter. Integrity Alliance LLC. now owns 42,251 shares of the electronics maker's stock valued at $3,700,000 after acquiring an additional 37,977 shares during the last quarter. Cary Street Partners Investment Advisory LLC raised its holdings in shares of Corning by 73.0% during the fourth quarter. Cary Street Partners Investment Advisory LLC now owns 1,498 shares of the electronics maker's stock valued at $131,000 after acquiring an additional 632 shares during the last quarter. Bleakley Financial Group LLC raised its holdings in shares of Corning by 24.9% during the fourth quarter. Bleakley Financial Group LLC now owns 22,891 shares of the electronics maker's stock valued at $2,004,000 after acquiring an additional 4,559 shares during the last quarter. Finally, Atlatl Advisers LLC raised its holdings in shares of Corning by 32.9% during the fourth quarter. Atlatl Advisers LLC now owns 34,706 shares of the electronics maker's stock valued at $3,039,000 after acquiring an additional 8,600 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GLW. Barclays increased their target price on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. HSBC reissued a "buy" rating and set a $135.00 target price on shares of Corning in a report on Friday, February 13th. Truist Financial increased their target price on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a report on Wednesday, April 29th. Susquehanna increased their target price on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. Finally, Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, Corning currently has an average rating of "Moderate Buy" and a consensus target price of $177.92.

Insider Buying and Selling

In related news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on 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 completion of the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the transaction, the chief executive officer owned 750,585 shares of the company's stock, valued at $116,618,391.45. The trade was a 15.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 198,169 shares of company stock valued at $33,412,111 in the last ninety days. Company insiders own 0.25% of the company's stock.

Corning Price Performance

GLW stock opened at $196.64 on Wednesday. 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 business has a 50 day simple moving average of $164.19 and a 200-day simple moving average of $124.80. The firm has a market capitalization of $169.24 billion, a PE ratio of 94.09, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14. Corning Incorporated has a 1 year low of $48.62 and a 1 year high of $211.79.

Corning (NYSE:GLW - Get 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 business had revenue of $4.35 billion during 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%.The business's revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's dividend payout ratio is presently 53.59%.

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.

Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.