AMJ Financial Wealth Management Buys Shares of 102,833 Corning Incorporated $GLW

AMJ Financial Wealth Management bought a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 102,833 shares of the electronics maker's stock, valued at approximately $9,004,000. Corning comprises approximately 2.1% of AMJ Financial Wealth Management's holdings, making the stock its 21st largest position.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GLW. Merit Financial Group LLC grew its stake in Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock valued at $3,940,000 after acquiring an additional 6,493 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ grew its stake in Corning by 4.9% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker's stock valued at $21,471,000 after acquiring an additional 12,297 shares in the last quarter. Hartline Investment Corp grew its stake in Corning by 113.2% during the third quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker's stock valued at $24,229,000 after acquiring an additional 156,843 shares in the last quarter. Three Seasons Wealth LLC purchased a new position in Corning during the fourth quarter valued at $1,750,000. Finally, Natixis Advisors LLC lifted its position in Corning by 32.1% during the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker's stock valued at $39,367,000 after purchasing an additional 116,583 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Trading Down 7.7%

NYSE GLW opened at $192.18 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market capitalization of $165.40 billion, a price-to-earnings ratio of 91.95, a price-to-earnings-growth ratio of 2.98 and a beta of 1.14. The company's 50-day simple moving average is $156.22 and its two-hundred day simple moving average is $119.68. Corning Incorporated has a one year low of $47.40 and a one year high of $211.79.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm posted $0.54 EPS. The company's revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

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

Insiders Place Their Bets

In other news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the business's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 170,774 shares of company stock worth $28,148,435. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Wolfe Research set a $130.00 price objective on shares of Corning and gave the stock an "outperform" rating in a research note on Tuesday, January 27th. Fox Advisors lowered shares of Corning from an "overweight" rating to an "equal weight" rating in a report on Thursday, January 29th. HSBC restated a "buy" rating and issued a $135.00 target price on shares of Corning in a report on Friday, February 13th. Mizuho raised their target price on shares of Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, Citigroup raised their target price on shares of Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $177.92.

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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