43,378 Shares in Corning Incorporated $GLW Bought by OMC Financial Services LTD

Key Points

• OMC Financial Services bought 43,378 Corning shares worth approximately $11.08 million, making GLW its ninth-largest holding and representing 3.7% of its portfolio. Institutional investors and hedge funds collectively own 69.8% of Corning.
• Corning exceeded quarterly expectations, reporting $0.78 in EPS versus $0.76 expected and $4.74 billion in revenue, up 17.1% year over year. The company guided for third-quarter EPS of $0.85–$0.89.
• Insiders recently sold shares, including CEO Wendell Weeks’ $18.65 million transaction, while analysts maintain a consensus “Moderate Buy” rating with a $174.08 price target. Corning also declared a quarterly dividend of $0.28 per share.

OMC Financial Services LTD bought a new stake in Corning Incorporated (NYSE:GLW - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 43,378 shares of the electronics maker's stock, valued at approximately $11,080,000. Corning comprises about 3.7% of OMC Financial Services LTD's portfolio, making the stock its 9th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLW. Alliance Wealth Advisors LLC lifted its stake in shares of Corning by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker's stock valued at $1,033,000 after purchasing an additional 56 shares in the last quarter. Ares Financial Consulting LLC increased its position in Corning by 15.6% during the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker's stock worth $113,000 after purchasing an additional 60 shares in the last quarter. Signature Equity Partners LLC raised its holdings in Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock valued at $52,000 after buying an additional 62 shares during the period. Beirne Wealth Consulting Services LLC raised its holdings in Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock valued at $1,094,000 after buying an additional 64 shares during the period. Finally, Balefire LLC lifted its position in Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock valued at $1,305,000 after buying an additional 65 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaymin Amin sold 27,395 shares of the firm's stock in a transaction that occurred on 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 completion of the sale, the senior vice president 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. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by corporate insiders.

Corning Stock Performance

Corning stock opened at $165.85 on Monday. Corning Incorporated has a 12-month low of $63.37 and a 12-month high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The company has a market capitalization of $142.86 billion, a price-to-earnings ratio of 75.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. The firm's fifty day moving average price is $176.82 and its 200 day moving average price is $161.92.

Corning (NYSE:GLW - Get Free Report) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business's revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio is presently 51.14%.

Analysts Set New Price Targets

GLW has been the subject of several research reports. Oppenheimer decreased their price objective on shares of Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Citigroup cut their target price on shares of Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, July 29th. UBS Group restated a "buy" rating and set a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. JPMorgan Chase & Co. decreased their price target on shares of Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Finally, Wall Street Zen downgraded Corning from a "strong-buy" rating to a "buy" rating in a report on Sunday. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.08.

Corning Company 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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