one8zero8 LLC Takes $5.38 Million Position in Corning Incorporated $GLW

Key Points

• one8zero8 LLC acquired 21,050 Corning shares worth approximately $5.38 million in the second quarter, making Corning its 23rd-largest holding and about 1.1% of its portfolio.
• Analyst sentiment remains positive but mixed: Corning has an overall “Moderate Buy” rating, with 11 Buy ratings and five Holds, alongside a consensus price target of $174.08.
• Corning’s latest quarter beat expectations, with $0.78 in adjusted EPS and $4.74 billion in revenue, up 17.1% year over year. The company also declared a quarterly dividend of $0.28 per share, yielding approximately 0.7%.

one8zero8 LLC bought a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 21,050 shares of the electronics maker's stock, valued at approximately $5,377,000. Corning makes up approximately 1.1% of one8zero8 LLC's investment portfolio, making the stock its 23rd biggest position.

A number of other institutional investors have also recently bought and sold shares of GLW. Berbice Capital Management LLC acquired a new position in shares of Corning in the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning during the 4th quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of Corning during the 2nd quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning in the fourth quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in Corning in the fourth quarter valued at about $31,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages have commented on GLW. Wall Street Zen cut shares of Corning from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Morgan Stanley dropped their target price on Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a report on Wednesday, July 29th. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a research report on Wednesday, April 29th. Zacks Research lowered Corning from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Finally, Mizuho lowered their price target on Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat.com, Corning presently has an average rating of "Moderate Buy" and a consensus price target of $174.08.

Insider Activity

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the business's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares of the company's stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the company'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 in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.25% of the company's stock.

Corning Trading Down 4.6%

Shares of GLW opened at $152.52 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company has a market cap of $131.38 billion, a price-to-earnings ratio of 69.64, a PEG ratio of 2.05 and a beta of 1.14. The stock has a fifty day moving average price of $175.94 and a two-hundred day moving average price of $163.10. Corning Incorporated has a 52-week low of $63.37 and a 52-week high of $271.78.

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

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given 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 (DPR) is presently 51.14%.

Corning Company 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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