Pathfinder Wealth Consulting Inc. Acquires Shares of 6,076 Corning Incorporated $GLW

Key Points

• Pathfinder Wealth Consulting opened a new position in Corning, buying 6,076 shares worth about $532,000 in the fourth quarter.
• Several large institutional investors also increased their Corning holdings, and institutions now own 69.8% of the company’s stock.
• Corning reported strong quarterly results, beating EPS and revenue estimates, while analysts remain mostly bullish with a Moderate Buy consensus and an average target price of $177.92.

Pathfinder Wealth Consulting Inc. bought a new position in Corning Incorporated (NYSE:GLW - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 6,076 shares of the electronics maker's stock, valued at approximately $532,000.

A number of other institutional investors also recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock valued at $8,693,247,000 after acquiring an additional 580,678 shares in the last quarter. State Street Corp boosted its position in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after purchasing an additional 439,883 shares during the last quarter. Wellington Management Group LLP boosted its position in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the last quarter. Ameriprise Financial Inc. grew its stake in Corning by 8.1% in the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock valued at $724,432,000 after purchasing an additional 1,036,988 shares in the last quarter. Finally, Capital Research Global Investors purchased a new position in Corning in the third quarter valued at about $907,164,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on GLW shares. JPMorgan Chase & Co. raised their price target on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Barclays boosted their price target on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Morgan Stanley set a $180.00 price objective on shares of Corning in a research report on Friday, May 8th. HSBC reiterated a "buy" rating and issued a $135.00 target price on shares of Corning in a research note on Friday, February 13th. Finally, UBS Group boosted their target price on shares of Corning from $179.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $177.92.

Corning Price Performance

Shares of NYSE:GLW opened at $193.83 on Friday. The stock has a market capitalization of $166.82 billion, a P/E ratio of 92.74, a P/E/G ratio of 2.78 and a beta of 1.14. The business has a 50-day moving average of $161.56 and a two-hundred day moving average of $123.01. Corning Incorporated has a fifty-two week low of $47.67 and a fifty-two week high of $211.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion for 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%.The firm's revenue was up 18.1% compared to the same quarter last year. During the same period last year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's payout ratio is presently 53.59%.

Insider Activity

In related news, CEO Wendell P. Weeks sold 137,514 shares of the firm's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the transaction, the chief executive officer directly owned 750,585 shares in the company, valued at approximately $116,618,391.45. This trade represents a 15.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, SVP Soumya Seetharam sold 20,000 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company's stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 170,774 shares of company stock valued at $28,148,435 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.