Corient Private Wealth LP Has $71.02 Million Stock Holdings in Corning Incorporated $GLW

Corient Private Wealth LP decreased its position in Corning Incorporated (NYSE:GLW - Free Report) by 3.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 278,000 shares of the electronics maker's stock after selling 9,805 shares during the period. Corient Private Wealth LP's holdings in Corning were worth $71,015,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Corning during the 4th quarter valued at about $921,435,000. Bank of New York Mellon Corp acquired a new stake in shares of Corning during the 2nd quarter worth approximately $1,510,911,000. Capital Research Global Investors grew its position in shares of Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after buying an additional 5,831,873 shares during the period. Legal & General Group Plc bought a new stake in shares of Corning during the second quarter worth approximately $1,212,283,000. Finally, Bank of America Corp DE raised its stake in shares of Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker's stock worth $4,784,361,000 after buying an additional 4,231,507 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer 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 position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of recent research reports. Wall Street Zen cut shares of Corning from a "buy" rating to a "hold" rating in a research note on Monday. Barclays dropped their target price on shares of 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 target on Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, July 29th. Bank of America raised their price target on Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Finally, JPMorgan Chase & Co. decreased their price objective on Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Corning presently has an average rating of "Moderate Buy" and an average price target of $174.08.

Corning Stock Up 3.8%

Shares of NYSE GLW opened at $152.76 on Thursday. The stock has a market cap of $131.59 billion, a P/E ratio of 69.75, a P/E/G ratio of 1.88 and a beta of 1.14. The firm has a 50 day moving average price of $172.96 and a 200 day moving average price of $164.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 52-week low of $66.14 and a 52-week high of $271.78.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts expect that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

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

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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