Oakmont Investment Advisors Inc. Invests $5.34 Million in Corning Incorporated $GLW

Key Points

• Oakmont Investment Advisors purchased 20,927 Corning shares worth approximately $5.34 million, making Corning its fourth-largest holding at 3.7% of the portfolio. Institutional investors collectively own 69.8% of the company.
• Corning’s latest quarterly results exceeded expectations, with adjusted EPS of $0.78 versus $0.76 expected and revenue of $4.74 billion, up 17.1% year over year. The company guided for third-quarter 2026 EPS of $0.85–$0.89.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $174.08, while Corning announced a quarterly dividend of $0.28 per share, equivalent to a 0.7% yield.

Oakmont Investment Advisors Inc. purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund purchased 20,927 shares of the electronics maker's stock, valued at approximately $5,345,000. Corning accounts for approximately 3.7% of Oakmont Investment Advisors Inc.'s investment portfolio, making the stock its 4th largest holding.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its stake in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock valued at $319,000 after buying an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new stake in shares of Corning during the 1st quarter worth approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in 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 acquiring an additional 5,522 shares during the period. Sivia Capital Partners LLC bought a new position in Corning in the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. purchased a new stake in Corning in the second quarter worth $266,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, EVP Lewis Steverson sold 13,100 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wendell Weeks sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company's stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Corporate insiders own 0.25% of the company's stock.

Corning Price Performance

NYSE GLW opened at $154.22 on Friday. The company has a market cap of $132.84 billion, a PE ratio of 70.42, a P/E/G ratio of 1.87 and a beta of 1.16. The firm's 50 day moving average price is $164.74 and its 200-day moving average price is $165.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 52-week low of $70.06 and a 52-week high of $271.78.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping 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 company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. Corning's revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

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 paid 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 payout ratio is 51.14%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on GLW shares. Mizuho lowered their target price on shares of Corning from $270.00 to $210.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Oppenheimer lowered their price objective on shares of Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. Bank of America raised their target price on shares of Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Zacks Research downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Finally, Morgan Stanley dropped their price objective on Corning from $180.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average 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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