CoreCap Advisors LLC lessened its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 20.0% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 51,315 shares of the electronics maker's stock after selling 12,860 shares during the period. CoreCap Advisors LLC's holdings in Corning were worth $13,107,000 at the end of the most recent reporting period.
Other institutional investors have also made changes to their positions in the company. Berbice Capital Management LLC acquired a new position in Corning during the 4th quarter worth about $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the 4th quarter valued at about $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning in the 4th quarter valued at about $27,000. Litman Gregory Wealth Management LLC bought a new position in shares of Corning in the fourth quarter worth about $31,000. Finally, Evolution Wealth Management Inc. raised its stake in shares of Corning by 58.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker's stock worth $33,000 after acquiring an additional 141 shares during the last quarter. 69.80% of the stock is owned by institutional investors.
Corning Stock Up 9.1%
Shares of NYSE GLW opened at $159.93 on Wednesday. Corning Incorporated has a 1 year low of $63.07 and a 1 year high of $271.78. The firm's 50-day moving average is $181.24 and its 200-day moving average is $158.13. 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 market capitalization of $137.76 billion, a PE ratio of 73.03, a price-to-earnings-growth ratio of 1.89 and a beta of 1.14.
Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. Corning's revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts expect that Corning Incorporated will post 3.26 EPS for the current year.
Corning Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning's payout ratio is presently 51.14%.
Wall Street Analysts Forecast Growth
GLW has been the topic of several research analyst reports. Citigroup decreased their price target on shares of Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, July 29th. JPMorgan Chase & Co. dropped their price objective on shares of Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a research report on Wednesday, July 29th. Wall Street Zen raised Corning from a "hold" rating to a "buy" rating in a report on Saturday, July 18th. UBS Group reiterated a "buy" rating and issued a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. Finally, Oppenheimer lowered their target price on Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $174.08.
Get Our Latest Stock Analysis on GLW
More Corning News
Here are the key news stories impacting Corning this week:
- Positive Sentiment: Truist upgraded Corning to Buy: The firm said July’s sharp sell-off created an attractive entry point, helping revive investor interest in Corning’s optical networking and specialty-glass businesses. Corning upgraded by Truist, firm says pullback provides opportunity
- Positive Sentiment: Potential China restrictions are viewed as a catalyst for some suppliers: Reports that China may restrict imports of certain data-center components have lifted several optical and networking stocks, including Corning. Investors may be anticipating changes in sourcing, competition, or demand for Corning’s optical infrastructure products. Marvell, Corning, and Lumentum Stocks Surge on Report of China Import Ban
- Positive Sentiment: Analysts see substantial upside: A report highlighted an average Wall Street price target of $193.40, while other coverage points to artificial-intelligence infrastructure, solar, and automotive demand as longer-term growth drivers. Corning Dropped 25% Over a Month: A Major U.S. Bank Expects 66% Gains Over The Near Term
- Neutral Sentiment: Recent earnings provide support: Corning exceeded quarterly revenue and earnings expectations, with revenue up 17.1% year over year, and guided to third-quarter earnings of $0.85–$0.89 per share. The strong results support the recovery narrative, though the stock’s elevated valuation leaves less room for disappointment.
- Negative Sentiment: Polysilicon tariffs and China-related curbs remain risks: Potential U.S. tariffs or a polysilicon price floor could raise costs or pressure Corning’s solar and semiconductor-materials businesses. China restrictions could also disrupt customers and supply chains, making the immediate effect on earnings difficult to assess. Corning Faces New Questions As Polysilicon Tariffs And China Curbs Loom
Insider Activity at Corning
In related news, VP John Z. Zhang sold 10,000 shares of Corning 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 directly owned 5,138 shares of the company's stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares of the company's stock, valued at $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 ninety days, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.
Corning Profile
(
Free Report)
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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