Benjamin Edwards Inc. Purchases 14,650 Shares of Corning Incorporated $GLW

Key Points

• Benjamin Edwards Inc. increased its Corning stake by 21% in the second quarter, acquiring 14,650 shares and bringing its holdings to 84,392 shares valued at approximately $21.6 million. Institutional investors collectively own 69.8% of Corning.
• Analyst sentiment remains positive but mixed: Corning has a consensus “Moderate Buy” rating and an average price target of $174.08, despite recent target-price cuts from Barclays and Mizuho.
• Corning reported stronger-than-expected quarterly results, with adjusted EPS of $0.78 and revenue of $4.74 billion, up 17.1% year over year. The company also declared a quarterly dividend of $0.28 per share, yielding about 0.8% annually.

Benjamin Edwards Inc. boosted its position in Corning Incorporated (NYSE:GLW - Free Report) by 21.0% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 84,392 shares of the electronics maker's stock after purchasing an additional 14,650 shares during the period. Benjamin Edwards Inc.'s holdings in Corning were worth $21,557,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLW. Alliance Wealth Advisors LLC raised its holdings in Corning by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker's stock valued at $1,033,000 after acquiring an additional 56 shares during the period. Ares Financial Consulting LLC boosted its stake in shares of Corning by 15.6% in the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker's stock worth $113,000 after acquiring an additional 60 shares during the period. Signature Equity Partners LLC boosted its stake in shares of Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock worth $52,000 after acquiring an additional 62 shares during the period. Beirne Wealth Consulting Services LLC grew its position in shares of Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock worth $1,094,000 after purchasing an additional 64 shares in the last quarter. Finally, Balefire LLC raised its stake in Corning by 0.7% during the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock valued at $1,305,000 after purchasing an additional 65 shares during the period. Hedge funds and other institutional investors own 69.80% of the company's stock.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was 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 $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research firms recently weighed in on GLW. Bank of America raised their target price on shares of Corning from $223.00 to $243.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Weiss Ratings cut shares of Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday, August 21st. UBS Group reissued a "buy" rating and set a $196.00 price objective on shares of Corning in a report on Wednesday, July 29th. Barclays cut their price objective on Corning from $180.00 to $129.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 29th. Finally, Mizuho decreased their target price on Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Corning has a consensus rating of "Moderate Buy" and an average target price of $174.08.

Corning Price Performance

Corning stock opened at $148.87 on Friday. Corning Incorporated has a 12-month low of $66.14 and a 12-month high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $171.18 and a 200-day moving average price of $164.60. The firm has a market capitalization of $128.23 billion, a PE ratio of 67.98, a price-to-earnings-growth ratio of 1.91 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly 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. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the firm posted $0.60 EPS. The firm'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. As a group, equities research analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning's dividend payout ratio is 51.14%.

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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