Performance Wealth Partners LLC Takes Position in Corning Incorporated $GLW

Performance Wealth Partners LLC purchased a new position in Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 16,158 shares of the electronics maker's stock, valued at approximately $4,127,000.

A number of other hedge funds also recently bought and sold shares of GLW. Atwood & Palmer Inc. bought a new stake in Corning during the 2nd quarter valued at about $26,000. First Community Trust NA bought a new stake in shares of Corning during the second quarter valued at approximately $72,000. N.E.W. Advisory Services LLC bought a new stake in shares of Corning during the second quarter valued at approximately $76,000. Berbice Capital Management LLC purchased a new position in Corning in the 4th quarter worth approximately $26,000. Finally, Basepoint Wealth LLC purchased a new position in Corning in the 4th quarter worth approximately $26,000. Institutional investors own 69.80% of the company's stock.

Insider Transactions at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the company's stock in a transaction dated 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 transaction, the chief executive officer directly 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. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GLW has been the topic of several recent analyst reports. 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 report on Wednesday, July 29th. UBS Group restated a "buy" rating and set a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Wall Street Zen downgraded shares of Corning from a "strong-buy" rating to a "buy" rating in a report on Sunday. Oppenheimer reduced their price target on shares of Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Finally, Bank of America boosted their price objective on shares of Corning from $223.00 to $243.00 and gave the company a "buy" rating in a report on Monday, July 6th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of "Moderate Buy" and an average target price of $174.08.

Corning Trading Up 4.4%

Shares of Corning stock opened at $173.29 on Tuesday. Corning Incorporated has a 1-year low of $63.37 and a 1-year high of $271.78. The company's fifty day simple moving average is $176.54 and its 200-day simple moving average is $162.37. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The stock has a market capitalization of $149.27 billion, a PE ratio of 79.13, a P/E/G ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared 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 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio is presently 51.14%.

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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