Clearstead Trust LLC Invests $2.45 Million in Corning Incorporated $GLW

Key Points

• Clearstead Trust LLC acquired 9,592 Corning shares worth approximately $2.45 million during the second quarter. Institutional investors collectively own 69.8% of Corning’s outstanding stock.
• Corning beat quarterly earnings expectations, reporting $0.78 in EPS versus the $0.76 consensus and $4.74 billion in revenue, up 17.1% year over year. The company issued third-quarter 2026 EPS guidance of $0.85–$0.89.
• Corning declared a quarterly dividend of $0.28 per share, equivalent to a 0.7% annualized yield. Analysts maintain a “Moderate Buy” consensus rating, although recent price targets have varied significantly.

Clearstead Trust LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 9,592 shares of the electronics maker's stock, valued at approximately $2,450,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Atwood & Palmer Inc. bought a new stake in shares of Corning in the 2nd quarter worth about $26,000. First Community Trust NA bought a new position in shares of Corning in the 2nd quarter valued at about $72,000. Berbice Capital Management LLC purchased a new position in Corning in the fourth quarter worth about $26,000. Basepoint Wealth LLC purchased a new position in Corning in the fourth quarter worth about $26,000. Finally, MBM Wealth Consultants LLC bought a new stake in Corning during the first quarter worth approximately $42,000. 69.80% of the stock is currently owned by institutional investors.

Corning Price Performance

Shares of GLW stock opened at $165.85 on Friday. The stock has a 50 day moving average price of $176.82 and a 200 day moving average price of $161.45. Corning Incorporated has a 52-week low of $63.37 and a 52-week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The firm has a market capitalization of $142.86 billion, a P/E ratio of 75.73, a P/E/G ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data 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 for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning's quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning's dividend payout ratio (DPR) is presently 51.14%.

Analyst Ratings Changes

GLW has been the subject of a number of recent research reports. Bank of America lifted their target price on Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Zacks Research lowered Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Barclays lowered their price target 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. Citigroup cut their price objective on shares of Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research report on Wednesday, July 29th. Finally, Wall Street Zen downgraded shares of Corning from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.08.

Insider Activity

In other 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 transaction of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares of the company's stock, 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 legal filing with the SEC, which can be accessed through this link. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company's stock, valued at $18,138,016. This represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by 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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