Corning Incorporated $GLW is Secured Retirement Advisors LLC's 5th Largest Position

Key Points

• Secured Retirement Advisors LLC cut its Corning stake by 16.6% in the first quarter, but the stock still remains its 5th largest position and about 3% of its portfolio.
• Corning has seen broadly bullish analyst sentiment, with several firms raising price targets and the consensus rating sitting at Moderate Buy with a target price of $186.46.
• The company posted better-than-expected quarterly results, including EPS of $0.70 on revenue of $4.34 billion, and it also announced a quarterly dividend of $0.28 per share.

Secured Retirement Advisors LLC lowered its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 16.6% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 39,104 shares of the electronics maker's stock after selling 7,766 shares during the period. Corning makes up approximately 3.0% of Secured Retirement Advisors LLC's holdings, making the stock its 5th biggest position. Secured Retirement Advisors LLC's holdings in Corning were worth $5,317,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in GLW. Brighton Jones LLC lifted its position in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock valued at $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. purchased a new stake in Corning during the 1st quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Corning by 9.3% during 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 buying an additional 5,522 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Corning in the 2nd quarter worth $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in shares of Corning in the second quarter worth $266,000. 69.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on GLW. Bank of America increased their target price on Corning from $155.00 to $186.00 and gave the company a "buy" rating in a report on Monday, April 20th. Morgan Stanley set a $180.00 target price on shares of Corning in a research report on Friday, May 8th. Oppenheimer upped their target price on shares of Corning from $120.00 to $210.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Wall Street Zen cut shares of Corning from a "buy" rating to a "hold" rating in a research note on Saturday, June 6th. Finally, JPMorgan Chase & Co. upped their price objective on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Ten 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 has an average rating of "Moderate Buy" and a consensus target price of $186.46.

Corning Price Performance

Shares of NYSE:GLW opened at $220.72 on Thursday. The company has a market capitalization of $189.96 billion, a P/E ratio of 105.61, a P/E/G ratio of 3.65 and a beta of 1.09. Corning Incorporated has a 1-year low of $51.32 and a 1-year high of $271.78. The firm's 50 day simple moving average is $189.43 and its two-hundred day simple moving average is $145.27. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same period in the prior year, the company posted $0.54 earnings per share. The company's revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Monday, August 31st. Corning's payout ratio is presently 53.59%.

Insiders Place Their Bets

In other news, VP John Z. Zhang sold 10,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares of the company's stock, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the sale, the senior vice president owned 25,570 shares of the company's stock, valued at $5,273,301.10. This represents a 43.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 160,655 shares of company stock valued at $30,692,560. Insiders own 0.25% of the company's stock.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Mizuho raised its price target on Corning to $270 from $220 and kept an outperform rating, signaling further upside from recent levels and reinforcing bullish sentiment around the stock. Mizuho raises Corning price target
• Positive Sentiment: Recent commentary highlights Corning’s strength in data center growth, which is supporting demand for its optical communications and specialty glass products and helping explain the stock’s move to record highs.
• Positive Sentiment: Corning’s addition to the Russell Growth indexes could broaden ownership among growth-focused funds and ETFs, potentially creating incremental demand for shares. Corning joins Russell Growth Indexes
• Positive Sentiment: Investors also remain focused on Corning’s recent dividend-related momentum and strong stock performance, which has kept the name on market screens for momentum and income buyers. Corning sets date for new dividend
• Neutral Sentiment: Analyst coverage updates and general commentary from recent market articles suggest Corning remains a closely watched large-cap technology materials name, but no major new operational change was disclosed in those notes. Analysts offer insights on Corning
• Negative Sentiment: Some recent coverage warns that after a steep multi-month advance, valuation and execution risks are increasing, which could limit near-term upside or trigger profit-taking.

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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