Florida Financial Advisors LLC Purchases Shares of 11,422 Corning Incorporated $GLW

Key Points

• Florida Financial Advisors LLC opened a new position in Corning, buying 11,422 shares worth about $999,000 in the fourth quarter.
• Institutional ownership remains high, with major firms like Vanguard, State Street, and Geode adding shares; overall, institutions and hedge funds own about 69.8% of Corning.
• Analyst sentiment is broadly positive, with multiple firms raising price targets and the consensus rating at Moderate Buy. Corning also beat quarterly EPS and revenue estimates and recently declared a $0.28 quarterly dividend.

Florida Financial Advisors LLC purchased a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 11,422 shares of the electronics maker's stock, valued at approximately $999,000.

Several other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in Corning by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock valued at $8,693,247,000 after acquiring an additional 580,678 shares in the last quarter. State Street Corp raised its holdings in Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after acquiring an additional 439,883 shares in the last quarter. Geode Capital Management LLC raised its holdings in Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock valued at $1,781,250,000 after acquiring an additional 517,067 shares in the last quarter. Wellington Management Group LLP raised its holdings in Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock valued at $1,358,211,000 after acquiring an additional 3,848,540 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock valued at $724,432,000 after acquiring an additional 1,036,988 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on GLW shares. Susquehanna upped their price target on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. UBS Group increased their target price on Corning from $179.00 to $223.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Oppenheimer increased their target price on Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a report on Thursday, May 7th. Wall Street Zen raised Corning from a "hold" rating to a "buy" rating in a report on Sunday, May 17th. Finally, HSBC reissued a "buy" rating and issued a $135.00 target price on shares of Corning in a report on Friday, February 13th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $177.92.

Insiders Place Their Bets

In related news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 60,655 shares of company stock valued at $12,046,561 in the last 90 days. Insiders own 0.25% of the company's stock.

Corning Trading Up 0.1%

Shares of GLW opened at $181.37 on Monday. Corning Incorporated has a 1 year low of $48.88 and a 1 year 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. The stock has a 50 day simple moving average of $167.47 and a 200-day simple moving average of $126.87. The stock has a market cap of $156.09 billion, a PE ratio of 86.78, a PEG ratio of 2.59 and a beta of 1.15.

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, topping analysts' consensus estimates 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 return on equity of 19.45% and a net margin of 11.09%.Corning's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

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