Diversify Advisory Services LLC Acquires 10,506 Shares of Corning Incorporated $GLW

Key Points

• Diversify Advisory Services increased its Corning stake by 39.7% in the third quarter, purchasing 10,506 additional shares and bringing its holdings to 36,958 shares valued at approximately $5.68 million. Institutional investors own 69.8% of Corning.
• Corning reported quarterly EPS of $0.78, beating estimates of $0.76, while revenue rose 17.1% year over year to $4.74 billion. The company also declared a quarterly dividend of $0.28 per share, equivalent to a 0.8% annualized yield.
• Analyst sentiment remains positive but tempered, with Corning receiving a “Moderate Buy” consensus rating and an average price target of $177.25; several firms recently lowered their targets while maintaining Buy or Outperform ratings.

Diversify Advisory Services LLC lifted its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 39.7% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 36,958 shares of the electronics maker's stock after purchasing an additional 10,506 shares during the quarter. Diversify Advisory Services LLC's holdings in Corning were worth $5,683,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the business. Atwood & Palmer Inc. bought a new position in Corning in the second quarter valued at approximately $26,000. Rogco LP bought a new stake in shares of Corning during the second quarter worth $27,000. Western Pacific Wealth Management LP bought a new stake in shares of Corning during the third quarter worth $25,000. Toth Financial Advisory Corp increased its position in shares of Corning by 130.7% during the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker's stock worth $27,000 after acquiring an additional 98 shares in the last quarter. Finally, Cornerstone Financial Management LLC raised its holdings in shares of Corning by 63.3% during the second quarter. Cornerstone Financial Management LLC now owns 196 shares of the electronics maker's stock worth $50,000 after acquiring an additional 76 shares during the period. 69.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Corning news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company's stock.

Corning Trading Up 2.2%

NYSE:GLW opened at $135.15 on Thursday. The company has a market cap of $116.42 billion, a P/E ratio of 46.08, a price-to-earnings-growth ratio of 1.67 and a beta of 1.13. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78. The business has a 50 day moving average price of $152.49 and a two-hundred day moving average price of $168.76. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm's revenue was up 17.1% compared to the same quarter last year. During the same period last year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts expect that Corning Incorporated will post 3.29 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning's dividend payout ratio (DPR) is 51.14%.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of research analyst reports. Weiss Ratings lowered shares of Corning from a "buy (b-)" rating to a "hold (c+)" rating in a report on Friday, August 21st. Morgan Stanley reduced their target price on shares of Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Corning from a "hold" rating to a "buy" rating in a research note on Saturday, October 10th. Mizuho lowered their target price on Corning from $210.00 to $180.00 and set an "outperform" rating for the company in a report on Tuesday, September 15th. Finally, Oppenheimer lowered their target price on Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. According to data from MarketBeat, Corning presently has an average rating of "Moderate Buy" and an average price target of $177.25.

About Corning

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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