Glenview Trust Co Buys Shares of 17,644 Corning Incorporated $GLW

Glenview Trust Co bought a new position in Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 17,644 shares of the electronics maker's stock, valued at approximately $2,399,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC boosted its stake in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock valued at $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new stake in shares of Corning during the 1st quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock valued at $2,962,000 after purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Corning in the 2nd quarter worth $401,000. Finally, Schnieders Capital Management LLC. purchased a new position in Corning during the 2nd quarter worth $266,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction 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 $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Corning Trading Down 2.6%

Shares of NYSE:GLW opened at $148.87 on Friday. 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 Incorporated has a 52-week low of $66.14 and a 52-week high of $271.78. The stock has a market cap of $128.24 billion, a price-to-earnings ratio of 67.98, a PEG ratio of 1.96 and a beta of 1.14. The business has a 50-day moving average price of $171.18 and a 200-day moving average price of $164.60.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the company earned $0.60 EPS. Corning's quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts predict 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. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning's dividend payout ratio (DPR) is 51.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. UBS Group reissued a "buy" rating and issued a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. JPMorgan Chase & Co. cut their price objective on shares of Corning from $200.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. Bank of America lifted their target price on shares of Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a research note on Monday, July 6th. Citigroup dropped their target price on shares of Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a research report on Wednesday, July 29th. Finally, Oppenheimer decreased their price target on shares of Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $174.08.

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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