4,584 Shares in Corning Incorporated $GLW Purchased by GK Wealth Management LLC

Key Points

• GK Wealth Management LLC has purchased a new stake in Corning Incorporated, acquiring 4,584 shares valued at approximately $241,000 during the second quarter.
• Corning reported $0.60 earnings per share (EPS) for the last quarter, exceeding the consensus estimate of $0.57, and has set guidance for Q3 2025 EPS between 0.630-0.670.
• The company declared a quarterly dividend of $0.28, representing an annualized dividend yield of 1.5%, with a payout ratio of 119.15%.

GK Wealth Management LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 4,584 shares of the electronics maker's stock, valued at approximately $241,000.

Other hedge funds have also made changes to their positions in the company. Central Pacific Bank Trust Division raised its position in shares of Corning by 23.6% in the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker's stock worth $3,838,000 after buying an additional 13,920 shares during the period. Strs Ohio purchased a new position in shares of Corning in the 1st quarter worth $27,219,000. Acadian Asset Management LLC raised its position in shares of Corning by 4,346.5% in the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker's stock worth $7,048,000 after buying an additional 150,521 shares during the period. Intech Investment Management LLC raised its position in shares of Corning by 507.6% in the 1st quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker's stock worth $9,665,000 after buying an additional 176,379 shares during the period. Finally, Gotham Asset Management LLC purchased a new position in shares of Corning in the 4th quarter worth $306,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Morgan Stanley set a $56.00 target price on Corning and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Argus reaffirmed a "buy" rating and issued a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. Wolfe Research assumed coverage on Corning in a research report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Oppenheimer reissued an "outperform" rating and issued a $72.00 price objective (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Finally, Susquehanna reissued a "positive" rating and issued a $75.00 price objective (up from $60.00) on shares of Corning in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $66.75.

Insider Buying and Selling at Corning

In related news, COO Avery H. Nelson III sold 36,240 shares of Corning stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the transaction, the chief operating officer directly owned 64,838 shares in the company, valued at approximately $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of Corning stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares of the company's stock, valued at $52,757,941.05. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 163,950 shares of company stock valued at $10,449,192. Company insiders own 0.40% of the company's stock.

Corning Stock Up 3.5%

NYSE:GLW traded up $2.68 during mid-day trading on Thursday, hitting $79.56. The company had a trading volume of 10,333,376 shares, compared to its average volume of 6,055,206. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $79.65. The firm has a market capitalization of $68.15 billion, a price-to-earnings ratio of 84.64, a PEG ratio of 1.76 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The business has a fifty day simple moving average of $64.27 and a 200-day simple moving average of $53.06.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The business 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 company earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. Corning's payout ratio is presently 119.15%.

Corning Profile

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.