Corning Incorporated $GLW Shares Purchased by Security National Bank

Key Points

• Security National Bank boosted its Corning stake by 340.4% in the fourth quarter, ending with 72,523 shares valued at about $6.35 million.
• Corning reported better-than-expected Q1 results, with EPS of $0.70 on revenue of $4.35 billion, and revenue rose 18.1% year over year.
• The company also announced a quarterly dividend of $0.28 per share, while analysts remain moderately bullish with a consensus price target of $177.92.

Security National Bank boosted its stake in Corning Incorporated (NYSE:GLW - Free Report) by 340.4% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 72,523 shares of the electronics maker's stock after purchasing an additional 56,056 shares during the period. Security National Bank's holdings in Corning were worth $6,350,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning in the 3rd quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in Corning in the 3rd quarter valued at approximately $27,000. Cornerstone Planning Group LLC grew its stake in shares of Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock worth $30,000 after acquiring an additional 124 shares in the last quarter. JPL Wealth Management LLC acquired a new position in shares of Corning in the third quarter worth $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Corning in the fourth quarter worth $35,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Price Performance

Corning stock opened at $192.18 on Friday. The stock has a market cap of $165.40 billion, a P/E ratio of 91.95, a price-to-earnings-growth ratio of 2.74 and a beta of 1.14. The company has a fifty day simple moving average of $156.22 and a 200-day simple moving average of $119.68. Corning Incorporated has a 12-month low of $47.40 and a 12-month high of $211.79. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company's revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's dividend payout ratio is currently 53.59%.

Insider Activity at Corning

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. This represents a 43.89% 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, CEO Wendell P. Weeks sold 137,514 shares of the company's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the transaction, the chief executive officer owned 750,585 shares of the company's stock, valued at $116,618,391.45. This represents a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 170,774 shares of company stock worth $28,148,435. Insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have commented on GLW. HSBC restated a "buy" rating and issued a $135.00 price target on shares of Corning in a research note on Friday, February 13th. Zacks Research upgraded shares of Corning from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Truist Financial boosted their price target on shares of Corning from $125.00 to $149.00 and gave the stock a "hold" rating in a research note on Wednesday, April 29th. Wolfe Research set a $130.00 price target on shares of Corning and gave the stock an "outperform" rating in a research note on Tuesday, January 27th. Finally, Mizuho boosted their price target on shares of Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $177.92.

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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