Focus Partners Advisor Solutions LLC Invests $4.78 Million in Corning Incorporated $GLW

Key Points

• Focus Partners Advisor Solutions acquired 18,717 Corning shares worth approximately $4.78 million in the second quarter, while institutional investors collectively own 69.8% of the company.
• Corning exceeded quarterly expectations with earnings of $0.78 per share and revenue of $4.74 billion, up 17.1% year over year; management guided to third-quarter EPS of $0.85–$0.89.
• The company declared a quarterly dividend of $0.28 per share, equivalent to a $1.12 annualized payout and a 0.7% yield. Analysts maintain a “Moderate Buy” consensus with an average price target of $174.08.

Focus Partners Advisor Solutions LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 18,717 shares of the electronics maker's stock, valued at approximately $4,781,000.

Other hedge funds have also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC grew its holdings in shares of Corning by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker's stock worth $1,033,000 after buying an additional 56 shares in the last quarter. Ares Financial Consulting LLC lifted its stake in shares of Corning by 15.6% in the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker's stock worth $113,000 after buying an additional 60 shares in the last quarter. Signature Equity Partners LLC boosted its position in Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock worth $52,000 after acquiring an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC boosted its position in Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock worth $1,094,000 after acquiring an additional 64 shares during the last quarter. Finally, Balefire LLC grew its stake in Corning by 0.7% during the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock valued at $1,305,000 after acquiring an additional 65 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Performance

NYSE:GLW opened at $165.85 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The firm has a market capitalization of $142.86 billion, a price-to-earnings ratio of 75.73, a PEG ratio of 2.12 and a beta of 1.14. The company's 50-day moving average is $176.82 and its two-hundred day moving average is $161.45. Corning Incorporated has a 1-year low of $63.37 and a 1-year high of $271.78.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business's revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning's dividend payout ratio (DPR) is 51.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup decreased their target price on shares of Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research note on Wednesday, July 29th. UBS Group reaffirmed a "buy" rating and issued a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. JPMorgan Chase & Co. reduced their price objective on Corning from $200.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 29th. Weiss Ratings raised Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 7th. Finally, Wall Street Zen cut Corning from a "strong-buy" rating to a "buy" rating in a report on Sunday. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $174.08.

Insider Buying and Selling at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction 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 $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the company's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by company insiders.

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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