Mason & Associates Inc bought a new position in Corning Incorporated (NYSE:GLW - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 5,997 shares of the electronics maker's stock, valued at approximately $771,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Millstone Evans Group LLC lifted its holdings in shares of Corning by 1.3% during the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker's stock valued at $733,000 after purchasing an additional 67 shares during the last quarter. Beacon Financial Group increased its stake in Corning by 4.0% in the 1st quarter. Beacon Financial Group now owns 3,394 shares of the electronics maker's stock worth $461,000 after purchasing an additional 131 shares in the last quarter. Main Street Research LLC acquired a new stake in Corning during the 1st quarter worth about $52,718,000. Fidelity D & D Bancorp Inc. acquired a new stake in Corning during the 1st quarter worth about $228,000. Finally, Resona Asset Management Co. Ltd. lifted its stake in Corning by 2.1% during the first quarter. Resona Asset Management Co. Ltd. now owns 256,801 shares of the electronics maker's stock valued at $34,575,000 after buying an additional 5,238 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.
Corning Stock Up 4.6%
Corning stock opened at $192.53 on Friday. The firm has a market cap of $165.70 billion, a PE ratio of 92.12, a P/E/G ratio of 2.41 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The firm's 50 day moving average price is $192.40 and its two-hundred day moving average price is $149.67. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $271.78.
Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business posted $0.54 EPS. The company's revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.
Corning Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning's dividend payout ratio (DPR) is presently 53.59%.
Analyst Ratings Changes
Several research analysts have commented on the stock. UBS Group set a $243.00 target price on shares of Corning in a report on Monday. Susquehanna boosted their price target on shares of Corning from $125.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. Barclays upped their price target 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. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Finally, Zacks Research cut shares of Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Ten equities 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.com, Corning presently has an average rating of "Moderate Buy" and an average target price of $193.54.
Get Our Latest Analysis on Corning
Insider Activity
In other news, SVP Jaymin Amin sold 27,395 shares of the firm's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company's stock, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares of the company's stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by company insiders.
Corning Company Profile
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Free Report)
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.
See Also
Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW - Free Report).
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