Crestwood Advisors Group LLC Has $3.51 Million Position in Corning Incorporated $GLW

Key Points

• Crestwood Advisors Group LLC increased its Corning stake by 181.7% in the fourth quarter, ending with 40,031 shares valued at about $3.5 million.
• Corning also saw significant insider selling, including CEO Wendell P. Weeks selling 137,514 shares; insiders sold 177,256 shares over the last 90 days.
• The company reported strong quarterly results and raised guidance, while analysts remain broadly positive with a consensus Moderate Buy rating and an average target price of $172.15.

Crestwood Advisors Group LLC boosted its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 181.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 40,031 shares of the electronics maker's stock after purchasing an additional 25,822 shares during the quarter. Crestwood Advisors Group LLC's holdings in Corning were worth $3,505,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Joel Isaacson & Co. LLC grew its position in Corning by 0.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker's stock valued at $1,797,000 after purchasing an additional 102 shares during the period. CVA Family Office LLC grew its position in Corning by 10.3% in the 3rd quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker's stock valued at $98,000 after purchasing an additional 111 shares during the period. Angeles Wealth Management LLC grew its position in Corning by 2.8% in the 3rd quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker's stock valued at $348,000 after purchasing an additional 116 shares during the period. Mowery & Schoenfeld Wealth Management LLC grew its position in Corning by 37.3% in the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 442 shares of the electronics maker's stock valued at $39,000 after purchasing an additional 120 shares during the period. Finally, Cornerstone Planning Group LLC grew its position in Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock valued at $30,000 after purchasing an additional 124 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Activity at Corning

In other news, insider Eric S. Musser sold 15,000 shares of Corning stock in a transaction on Monday, February 9th. The stock was sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the sale, the insider directly owned 4,926 shares in the company, valued at $641,611.50. The trade was a 75.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 137,514 shares of the business's stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the sale, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. This represents a 15.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 177,256 shares of company stock worth $26,541,572. 0.25% of the stock is owned by company insiders.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Nvidia is funding Corning’s plant construction and taking an equity stake, signaling a long-term strategic partnership that could materially grow Corning’s AI-related manufacturing business. Nvidia funds construction of Corning plants, in addition to equity investment
• Positive Sentiment: Analysts have been raising price targets and keeping generally constructive ratings, with Citi, Oppenheimer, and others citing stronger growth prospects after Corning’s recent results and the Nvidia deal. Analysts Have Conflicting Sentiments on These Technology Companies: Coherent Corp (COHR), Corning (GLW) and Fortinet (FTNT)
• Neutral Sentiment: Corning is also drawing attention from media and commentators, including a Closing Bell appearance and bullish commentary from Jim Cramer, which may support sentiment but does not change fundamentals by itself. Corning Incorporated to ring the NYSE Closing Bell® on Thursday
• Neutral Sentiment: Some articles warn the stock may be getting extended after a huge one-year run, suggesting valuation risk could limit upside if AI enthusiasm cools. Is Corning (GLW) Getting Ahead Of Itself After A 311% One Year Surge?
• Negative Sentiment: JPMorgan’s relatively cautious view and neutral rating suggest some analysts still see limited near-term upside after the rally, even with the higher target. Corning price target raised by JPMorgan Chase & Co.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLW. Mizuho set a $145.00 price objective on shares of Corning in a report on Monday, February 23rd. Wall Street Zen downgraded shares of Corning from a "buy" rating to a "hold" rating in a report on Saturday. Weiss Ratings raised shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 17th. Zacks Research raised shares of Corning from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Finally, Citigroup lifted their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $172.15.

Corning Trading Up 2.2%

NYSE GLW opened at $186.47 on Friday. The stock has a market capitalization of $160.48 billion, a price-to-earnings ratio of 89.22, a PEG ratio of 2.58 and a beta of 1.14. Corning Incorporated has a one year low of $44.83 and a one year high of $198.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The business's fifty day moving average is $150.46 and its 200-day moving average is $115.11.

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

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's payout ratio is presently 53.59%.

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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