Krilogy Financial LLC Increases Stock Position in Corning Incorporated $GLW

Key Points

• Krilogy Financial LLC increased its stake in Corning by 67.7% in the first quarter, buying 7,996 more shares and bringing its total holding to 19,808 shares valued at about $2.69 million.
• Corning reported better-than-expected quarterly results, with EPS of $0.70 versus $0.69 expected and revenue of $4.34 billion, while revenue rose 18.1% year over year. The company also guided Q2 2026 EPS to 0.730-0.770.
• The company recently declared a quarterly dividend of $0.28 per share, payable on June 29, and analysts currently view the stock as a Moderate Buy with a consensus target price of $182.62.

Krilogy Financial LLC raised its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 67.7% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 19,808 shares of the electronics maker's stock after purchasing an additional 7,996 shares during the period. Krilogy Financial LLC's holdings in Corning were worth $2,693,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. Berbice Capital Management LLC purchased a new stake in shares of Corning in the fourth quarter worth about $26,000. Basepoint Wealth LLC bought a new stake in Corning in the 4th quarter worth approximately $26,000. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Corning during the 3rd quarter worth approximately $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning during the 4th quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in shares of Corning during the 4th quarter valued at approximately $31,000. 69.80% of the stock is owned by institutional investors.

Corning Stock Performance

NYSE GLW opened at $205.91 on Thursday. The business's 50 day moving average price is $182.50 and its 200-day moving average price is $140.14. Corning Incorporated has a fifty-two week low of $51.09 and a fifty-two week high of $217.09. The company has a market cap of $177.21 billion, a P/E ratio of 98.52, a P/E/G ratio of 2.78 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning's revenue was up 18.1% on a year-over-year basis. During the same period last year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, May 29th. Corning's dividend payout ratio (DPR) is 53.59%.

Insider Activity

In other news, VP John Z. Zhang sold 10,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares of the company's stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred 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 owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,655 shares of company stock worth $30,692,560 in the last 90 days. Company insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GLW shares. Bank of America boosted their price target on shares of Corning from $155.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Barclays increased their price objective on shares of Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Truist Financial boosted their target price on shares of Corning from $149.00 to $205.00 and gave the stock a "hold" rating in a report on Monday. Citigroup upped their target price on shares of Corning from $175.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded shares of Corning from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, Corning currently has a consensus rating of "Moderate Buy" and a consensus target price of $182.62.

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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