Providence First Trust Co Purchases Shares of 11,061 Corning Incorporated $GLW

Providence First Trust Co purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 11,061 shares of the electronics maker's stock, valued at approximately $969,000.

A number of other institutional investors also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Corning in the third quarter worth $25,000. Strengthening Families & Communities LLC bought a new position in shares of Corning during the third quarter valued at about $27,000. Cornerstone Planning Group LLC increased its holdings in shares of Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock worth $30,000 after buying an additional 124 shares during the period. JPL Wealth Management LLC bought a new stake in shares of Corning in the 3rd quarter valued at about $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Corning in the fourth quarter worth about $35,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Wall Street Analyst Weigh In

GLW has been the subject of a number of recent analyst reports. Oppenheimer set a $120.00 price target on Corning in a research report on Thursday, January 29th. Wolfe Research set a $130.00 price objective on Corning and gave the stock an "outperform" rating in a research report on Tuesday, January 27th. Susquehanna boosted their target price on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a research note on Wednesday, April 29th. Bank of America lifted their price target on shares of Corning from $155.00 to $186.00 and gave the company a "buy" rating in a report on Monday, April 20th. Finally, Fox Advisors downgraded shares of Corning from an "overweight" rating to an "equal weight" rating in a research report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $150.31.

Corning Stock Up 1.3%

Shares of Corning stock opened at $162.12 on Wednesday. Corning Incorporated has a 1 year low of $44.33 and a 1 year high of $179.08. The firm has a market cap of $139.53 billion, a price-to-earnings ratio of 77.57, a PEG ratio of 2.28 and a beta of 1.14. The company has a 50-day moving average of $149.11 and a 200 day moving average of $113.75. 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 released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.17 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning's dividend payout ratio (DPR) is presently 53.59%.

Insider Transactions at Corning

In other Corning news, insider Eric S. Musser sold 15,000 shares of the business's stock in a transaction on Monday, February 9th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the sale, the insider owned 4,926 shares in the company, valued at $641,611.50. The trade was a 75.28% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of the firm's stock in a transaction dated 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 owned 750,585 shares of the company's stock, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 177,256 shares of company stock valued at $26,541,572. 0.25% of the stock is 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.

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