9,962 Shares in Corning Incorporated $GLW Bought by Pursuit Wealth Management LLC

Key Points

• Pursuit Wealth Management LLC established a new position in Corning (NYSE:GLW) during Q4, buying 9,962 shares valued at roughly $872,000.
• Analysts have been raising targets recently and the stock has a consensus rating of Moderate Buy with an average price target of $132.08, with several firms lifting targets as high as $160.
• Corporate insiders sold a total of 233,201 shares (~$32.6M) over the last quarter, leaving insiders with 0.25% ownership while institutional investors hold about 69.8% of the stock.

Pursuit Wealth Management LLC bought a new position in Corning Incorporated (NYSE:GLW - Free Report) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 9,962 shares of the electronics maker's stock, valued at approximately $872,000.

Other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its holdings in shares of Corning by 0.8% during the third quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker's stock valued at $8,096,577,000 after acquiring an additional 750,530 shares during the last quarter. State Street Corp raised its holdings in Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after acquiring an additional 439,883 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock worth $724,432,000 after purchasing an additional 1,036,988 shares during the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Corning in the third quarter valued at approximately $907,164,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently commented on the company. Mizuho set a $145.00 price objective on Corning in a research report on Monday, February 23rd. Susquehanna upped their target price on Corning from $100.00 to $125.00 and gave the company a "positive" rating in a report on Thursday, January 29th. Bank of America raised their target price on Corning from $144.00 to $155.00 and gave the stock a "buy" rating in a research note on Monday, March 23rd. Truist Financial assumed coverage on shares of Corning in a research report on Tuesday, March 31st. They set a "hold" rating and a $125.00 price target on the stock. Finally, UBS Group upped their price objective on shares of Corning from $125.00 to $160.00 and gave the company a "buy" rating in a report on Friday, February 20th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $132.08.

Corning Stock Performance

NYSE GLW opened at $168.13 on Thursday. The stock has a market cap of $144.43 billion, a PE ratio of 91.38, a P/E/G ratio of 2.71 and a beta of 1.06. Corning Incorporated has a twelve month low of $40.16 and a twelve month high of $176.75. The stock has a fifty day simple moving average of $140.79 and a 200-day simple moving average of $106.82. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm's revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter last year, the firm earned $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, February 27th were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning's dividend payout ratio (DPR) is currently 60.87%.

Insider Transactions at Corning

In other Corning news, CFO Edward A. Schlesinger sold 21,104 shares of the company's stock in a transaction on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the completion of the transaction, the chief financial officer owned 54,780 shares in the company, valued at approximately $5,727,249. This represents a 27.81% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the sale, the chief executive officer directly owned 750,585 shares in the company, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 233,201 shares of company stock worth $32,614,558 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

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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