Focus Partners Wealth Purchases 12,001 Shares of Corning Incorporated $GLW

Key Points

• Focus Partners Wealth increased its stake in Corning Incorporated by 2.0%, owning a total of 614,241 shares valued at approximately $28.12 million after purchasing an additional 12,001 shares in the first quarter.
• Several research firms have upgraded Corning's stock ratings, with Mizuho raising the price target from $63.00 to $74.00 and Oppenheimer setting a new target at $72.00.
• Corning announced a quarterly dividend of $0.28 per share with an annualized yield of 1.5%, alongside a high payout ratio of 119.15%.

Focus Partners Wealth raised its position in Corning Incorporated (NYSE:GLW - Free Report) by 2.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 614,241 shares of the electronics maker's stock after buying an additional 12,001 shares during the quarter. Focus Partners Wealth owned about 0.07% of Corning worth $28,120,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Vermillion Wealth Management Inc. bought a new position in Corning in the 4th quarter valued at about $29,000. Putney Financial Group LLC bought a new position in Corning in the 4th quarter valued at about $30,000. Investment Management Corp VA ADV increased its holdings in Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock valued at $34,000 after buying an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC increased its holdings in Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock valued at $34,000 after buying an additional 353 shares during the period. Finally, Resources Management Corp CT ADV increased its holdings in Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock valued at $34,000 after buying an additional 300 shares during the period. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms have commented on GLW. Wolfe Research began coverage on shares of Corning in a report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Mizuho lifted their price target on shares of Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a report on Friday, August 8th. JPMorgan Chase & Co. lifted their price target on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Oppenheimer reaffirmed an "outperform" rating and set a $72.00 price target (up from $55.00) on shares of Corning in a report on Wednesday, July 30th. Finally, Wall Street Zen raised shares of Corning from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 2nd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of "Moderate Buy" and a consensus price target of $66.75.

Insider Activity

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following 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 position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the business's stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the sale, the chief executive officer directly owned 809,295 shares in the company, valued at $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 163,950 shares of company stock worth $10,449,192. Company insiders own 0.40% of the company's stock.

Corning Trading Up 0.8%

GLW opened at $75.53 on Friday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $77.08. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The firm has a market capitalization of $64.70 billion, a price-to-earnings ratio of 80.35, a PEG ratio of 1.68 and a beta of 1.09. The company's 50 day moving average price is $62.28 and its two-hundred day moving average price is $52.29.

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

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. Corning's payout ratio is presently 119.15%.

About Corning

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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