Clearwave Capital LLC Takes Position in Corning Incorporated $GLW

Clearwave Capital LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 18,866 shares of the electronics maker's stock, valued at approximately $1,652,000. Corning makes up 1.2% of Clearwave Capital LLC's portfolio, making the stock its 22nd largest position.

A number of other hedge funds have also added to or reduced their stakes in GLW. Brighton Jones LLC lifted its stake in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock worth $319,000 after purchasing an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in shares of Corning in the 1st quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock valued at $2,962,000 after purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Corning in the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in shares of Corning during the 2nd quarter worth $266,000. 69.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on the company. Truist Financial raised their price objective on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research note on Wednesday, April 29th. Weiss Ratings reissued a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Barclays increased their target price on shares of Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Mizuho upped their price objective on shares of Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 12th. Finally, Wall Street Zen lowered shares of Corning from a "buy" rating to a "hold" rating in a research report on Saturday, June 6th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $178.31.

Insiders Place Their Bets

In related news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the sale, the senior vice president owned 25,570 shares of the company's stock, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer owned 908,353 shares of the company's stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 160,655 shares of company stock worth $30,692,560. Company insiders own 0.25% of the company's stock.

Corning Price Performance

Shares of NYSE:GLW opened at $195.28 on Friday. The firm has a market capitalization of $168.06 billion, a PE ratio of 93.44, a P/E/G ratio of 2.79 and a beta of 1.15. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a 50-day moving average price of $180.63 and a two-hundred day moving average price of $137.25. Corning Incorporated has a twelve month low of $49.97 and a twelve month high of $211.79.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. 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 year.

Corning Announces Dividend

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

About Corning

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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