Salvus Wealth Management LLC Has $932,000 Stock Holdings in Corning Incorporated $GLW

Key Points

• Salvus Wealth Management LLC increased its stake in Corning Incorporated by 82.9% during the second quarter, holding shares worth $932,000 as of its last SEC filing.
• Corning stock has experienced varying analyst ratings, with new price targets set between $65.00 and $84.00, and a consensus rating of Moderate Buy.
• The company recently declared a quarterly dividend of $0.28 per share, marking an annualized dividend of $1.12, with a payout ratio of 119.15%.

Salvus Wealth Management LLC increased its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 82.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,720 shares of the electronics maker's stock after buying an additional 8,034 shares during the period. Salvus Wealth Management LLC's holdings in Corning were worth $932,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in GLW. Amundi grew its stake in shares of Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker's stock valued at $271,237,000 after buying an additional 2,507,797 shares during the last quarter. Nuveen LLC bought a new stake in Corning in the 1st quarter worth about $104,789,000. Kingstone Capital Partners Texas LLC purchased a new stake in Corning during the second quarter valued at $92,560,000. Assenagon Asset Management S.A. grew its holdings in Corning by 101.0% during the first quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker's stock valued at $135,140,000 after purchasing an additional 1,483,151 shares during the period. Finally, SG Americas Securities LLC increased its stake in Corning by 3,441.4% in the 1st quarter. SG Americas Securities LLC now owns 1,190,359 shares of the electronics maker's stock worth $54,495,000 after buying an additional 1,156,746 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Mizuho boosted their price objective on shares of Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a research report on Friday, August 8th. Oppenheimer restated an "outperform" rating and issued a $72.00 target price (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Morgan Stanley set a $56.00 target price on shares of Corning and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. Barclays upped their target price on Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. lifted their price target on Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Corning currently has a consensus rating of "Moderate Buy" and a consensus target price of $66.75.

Corning Stock Down 0.6%

Corning stock traded down $0.46 during mid-day trading on Monday, hitting $79.11. The company had a trading volume of 7,312,757 shares, compared to its average volume of 9,536,202. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $79.98. The stock has a market cap of $67.76 billion, a price-to-earnings ratio of 84.15, a PEG ratio of 1.78 and a beta of 1.09. The business has a fifty day moving average of $65.89 and a 200 day moving average of $53.83.

Corning (NYSE:GLW - Get Free Report) last released its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter last year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, sell-side analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.4%. The ex-dividend date of this dividend is Friday, August 29th. Corning's dividend payout ratio is 119.15%.

Insider Activity

In other news, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the completion of the transaction, the senior vice president directly owned 88,722 shares in the company, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, SVP Michael Paul O'day sold 14,879 shares of the firm's stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the sale, the senior vice president owned 35,743 shares in the company, valued at $2,228,933.48. The trade was a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock worth $11,816,899 in the last ninety days. 0.32% of the stock is currently owned by company insiders.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.