Green Alpha Advisors LLC Takes $6.70 Million Position in Corning Incorporated $GLW

Green Alpha Advisors LLC purchased a new stake in Corning Incorporated (NYSE:GLW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 26,236 shares of the electronics maker's stock, valued at approximately $6,702,000. Corning accounts for approximately 4.5% of Green Alpha Advisors LLC's portfolio, making the stock its 4th biggest holding.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Berbice Capital Management LLC purchased a new position in Corning during the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning in the fourth quarter valued at about $26,000. Atwood & Palmer Inc. purchased a new stake in shares of Corning during the second quarter worth about $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the 4th quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in shares of Corning during the 4th quarter worth about $31,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Trading Down 1.0%

GLW opened at $149.91 on Friday. The firm has a market capitalization of $129.13 billion, a price-to-earnings ratio of 68.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14. The company's 50 day simple moving average is $174.83 and its two-hundred day simple moving average is $163.35. Corning Incorporated has a 1-year low of $65.09 and a 1-year high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

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 (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the business earned $0.60 earnings per share. The business's revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

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

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company's stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

GLW has been the topic of several research analyst reports. Morgan Stanley lowered their price objective on Corning from $180.00 to $165.00 and set an "equal weight" rating on the stock in a report on Wednesday, July 29th. JPMorgan Chase & Co. reduced their target price on Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, July 29th. UBS Group restated a "buy" rating and issued a $196.00 target price on shares of Corning 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, Bank of America boosted their price target on Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price 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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