Corning Incorporated $GLW Shares Purchased by Stratos Wealth Partners LTD.

Key Points

• Stratos Wealth Partners LTD. increased its stake in Corning Incorporated by 14.0%, owning 52,552 shares valued at $2,764,000 as of the latest filing.
• Corning reported earnings of $0.60 per share for the last quarter, exceeding analyst expectations of $0.57, and generated $3.86 billion in revenue.
• The company announced a quarterly dividend of $0.28 per share, representing an annual yield of 1.3%, with the dividend set to be paid on December 12th.

Stratos Wealth Partners LTD. boosted its position in Corning Incorporated (NYSE:GLW - Free Report) by 14.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 52,552 shares of the electronics maker's stock after acquiring an additional 6,466 shares during the quarter. Stratos Wealth Partners LTD.'s holdings in Corning were worth $2,764,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. REAP Financial Group LLC lifted its stake in shares of Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock worth $27,000 after purchasing an additional 339 shares in the last quarter. Investment Management Corp VA ADV lifted its stake in shares of Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after purchasing an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after purchasing an additional 353 shares in the last quarter. Banque Transatlantique SA acquired a new position in shares of Corning during the first quarter worth about $34,000. Finally, Resources Management Corp CT ADV lifted its stake in shares of Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock worth $34,000 after purchasing an additional 300 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Analyst Ratings Changes

A number of brokerages have commented on GLW. Wolfe Research began coverage on Corning in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. Susquehanna restated a "positive" rating and set a $75.00 price objective (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Corning in a research report on Wednesday, October 8th. Finally, Citigroup lifted their target price on Corning from $72.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, Corning has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Insider Transactions at Corning

In related news, EVP Lewis A. Steverson sold 16,646 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the sale, the executive vice president directly owned 39,759 shares of the company's stock, valued at $2,473,804.98. The trade was a 29.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the business's stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the sale, the chief executive officer directly owned 809,295 shares of the company's stock, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock valued at $11,816,899 over the last 90 days. Corporate insiders own 0.32% of the company's stock.

Corning Stock Down 2.6%

Shares of NYSE GLW opened at $84.49 on Monday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $87.78. The firm has a market cap of $72.38 billion, a price-to-earnings ratio of 89.88, a PEG ratio of 1.89 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The stock's 50-day simple moving average is $75.33 and its 200-day simple moving average is $58.73.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period in the previous year, the company earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning's payout ratio is currently 119.15%.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.

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