Corning Incorporated $GLW Shares Purchased by Corient Private Wealth LLC

Key Points

• Corient Private Wealth increased its stake in Corning by 18.5% in the fourth quarter, buying 44,739 additional shares and bringing its total holdings to 286,225 shares worth about $25.1 million.
• Wall Street sentiment is constructive, with multiple analysts raising price targets and Corning carrying a consensus rating of “Moderate Buy” and an average target price of $182.62.
• Corning reported strong quarterly results, beating EPS and revenue estimates, while also announcing a quarterly dividend of $0.28 per share and noting recent insider selling, including a large sale by CEO Wendell P. Weeks.

Corient Private Wealth LLC raised its stake in Corning Incorporated (NYSE:GLW - Free Report) by 18.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 286,225 shares of the electronics maker's stock after purchasing an additional 44,739 shares during the quarter. Corient Private Wealth LLC's holdings in Corning were worth $25,071,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of GLW. Hsbc Holdings PLC lifted its position in shares of Corning by 0.5% during the fourth quarter. Hsbc Holdings PLC now owns 1,647,264 shares of the electronics maker's stock worth $144,527,000 after purchasing an additional 8,654 shares in the last quarter. Bayban acquired a new stake in Corning during the 4th quarter valued at $52,000. Rehmann Capital Advisory Group increased its stake in Corning by 6.1% during the 4th quarter. Rehmann Capital Advisory Group now owns 3,403 shares of the electronics maker's stock worth $298,000 after buying an additional 195 shares during the period. SHP Wealth Management purchased a new stake in Corning during the 4th quarter worth $109,000. Finally, Reflection Asset Management acquired a new position in Corning in the 4th quarter worth $94,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Barclays raised their target price on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Morgan Stanley set a $180.00 price target on Corning in a research note on Friday, May 8th. Mizuho increased their price target on Corning from $190.00 to $220.00 and gave the company an "outperform" rating in a report on Tuesday, May 12th. Susquehanna raised their price objective on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a research note on Wednesday, April 29th. Finally, JPMorgan Chase & Co. lifted their price objective on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and an average target price of $182.62.

Corning Price Performance

Shares of GLW stock opened at $209.61 on Tuesday. The firm has a fifty day moving average of $181.42 and a two-hundred day moving average of $138.52. The firm has a market cap of $180.40 billion, a P/E ratio of 100.29, a P/E/G ratio of 2.79 and a beta of 1.15. Corning Incorporated has a 1-year low of $50.26 and a 1-year high of $212.39. 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 issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the business posted $0.54 EPS. The company's revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.5%. Corning's payout ratio is presently 53.59%.

Insider Activity at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated 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 in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,655 shares of company stock valued at $30,692,560 in the last ninety days. 0.25% of the stock is owned by insiders.

Corning Profile

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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