Corning Incorporated $GLW Shares Acquired by Soltis Investment Advisors LLC

Key Points

• Soltis Investment Advisors increased its Corning stake by 352.8% in the third quarter, bringing its holdings to 39,912 shares valued at approximately $6.14 million. Institutional investors collectively own 69.8% of Corning.
• Corning exceeded quarterly expectations, reporting $0.91 in adjusted earnings per share and $5.08 billion in revenue, up 18.9% year over year. The company also declared a quarterly dividend of $0.28, equal to a 0.9% annualized yield.
• Despite strong AI-related fiber demand and a “Moderate Buy” analyst consensus, Corning shares have faced pressure amid valuation concerns, mixed analyst targets and recent insider selling.

Soltis Investment Advisors LLC grew its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 352.8% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 39,912 shares of the electronics maker's stock after buying an additional 31,097 shares during the quarter. Soltis Investment Advisors LLC's holdings in Corning were worth $6,137,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. State Street Corp lifted its position in shares of Corning by 13.4% in the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker's stock worth $10,500,315,000 after purchasing an additional 4,845,027 shares during the period. Bank of America Corp DE boosted its stake in shares of Corning by 29.2% during the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker's stock valued at $4,784,361,000 after purchasing an additional 4,231,507 shares in the last quarter. Wellington Management Group LLP increased its position in shares of Corning by 50.9% during the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker's stock valued at $3,365,084,000 after buying an additional 4,446,514 shares during the period. Bank of New York Mellon Corp purchased a new position in shares of Corning during the second quarter valued at about $1,510,911,000. Finally, Legal & General Group Plc bought a new position in Corning in the second quarter worth about $1,212,283,000. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Down 1.8%

Shares of Corning stock opened at $128.87 on Friday. Corning Incorporated has a 1 year low of $77.39 and a 1 year high of $271.78. The firm has a market cap of $111.01 billion, a price-to-earnings ratio of 52.17, a PEG ratio of 1.62 and a beta of 1.13. The company has a 50-day moving average of $148.45 and a 200 day moving average of $154.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.72 and a quick ratio of 1.24.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, October 27th. The electronics maker reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. Corning had a net margin of 12.13% and a return on equity of 20.83%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $5.03 billion. During the same quarter in the previous year, the firm posted $0.67 earnings per share. Corning's quarterly revenue was up 18.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.36 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Corning's payout ratio is currently 45.34%.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: AI-driven growth is accelerating. Third-quarter sales increased 19%, while Optical Communications revenue reportedly rose 44%. Core earnings climbed 36%, supported by strong demand for fiber and optical components used in AI data centers. Corning Q3 Sales Jump 19% as AI Optical Demand and Margins Accelerate
• Positive Sentiment: Profitability and guidance improved. Gross margin expanded to approximately 40.5% and operating margin reached 22.7%. The earnings beat and upbeat fourth-quarter outlook reinforce expectations for continued earnings growth. Buy Corning on Solid Q3 Earnings, Guidance and AI Photonics Space Rally
• Positive Sentiment: Long-term demand catalysts remain intact. Major customer agreements and customer-funded capacity expansion could support Corning’s production growth. A shift from copper to optical connectivity may substantially increase fiber demand per AI processor. The Invisible AI Backbone: Corning's AI Fiber Play
• Positive Sentiment: Some analysts see value after the pullback. Truist reaffirmed its “buy” rating with a $175 price target, implying substantial upside from the referenced price level. Truist Corning rating
• Neutral Sentiment: Analyst opinion is mixed. Morgan Stanley maintained an “equal weight” rating while cutting its price target to $155 from $165, indicating that further valuation gains depend on sustained margin expansion. Morgan Stanley Corning rating
• Negative Sentiment: Valuation and sentiment remain headwinds. Corning’s recent decline reflects profit-taking and high expectations following its AI-related rally. With a high earnings multiple, investors may demand additional evidence that revenue growth will translate into durable profits. Corning Falls 14.1% in the Past Month
• Negative Sentiment: Trading flows have been unfavorable. Exchange-traded funds were net sellers of GLW, adding near-term supply pressure and contributing to the stock’s weakness despite the positive earnings narrative. ETFs Are Net Sellers of Corning

Insider Activity at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the company's stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several brokerages have commented on GLW. Weiss Ratings lowered shares of Corning from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Oppenheimer reduced their target price on Corning from $230.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. Mizuho decreased their target price on Corning from $210.00 to $180.00 and set an "outperform" rating for the company in a research report on Tuesday, September 15th. China Renaissance upgraded Corning from a "hold" rating to a "buy" rating and set a $238.00 target price for the company in a research note on Tuesday, September 8th. Finally, Truist Financial restated a "buy" rating and issued a $175.00 target price (down from $182.00) on shares of Corning in a research note on Wednesday. Thirteen analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $175.81.

Corning Profile

Corning Incorporated NYSE: GLW is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company's products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.

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