SFE Investment Counsel Buys New Position in Corning Incorporated $GLW

Key Points

• SFE Investment Counsel purchased 18,709 Corning shares in the second quarter, valued at approximately $4.8 million. Institutional investors collectively own 69.8% of Corning’s outstanding stock.
• Analysts maintain a generally positive view, with 11 Buy ratings and five Holds producing a “Moderate Buy” consensus and an average price target of $174.08.
• Corning exceeded quarterly expectations with adjusted EPS of $0.78 and revenue of $4.74 billion, up 17.1% year over year. The company also declared a quarterly dividend of $0.28 per share, representing a 0.7% yield.

SFE Investment Counsel purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 18,709 shares of the electronics maker's stock, valued at approximately $4,779,000.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Merit Financial Group LLC lifted its position in shares of Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock valued at $3,940,000 after purchasing an additional 6,493 shares in the last quarter. Security National Bank grew its position in Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock worth $6,350,000 after purchasing an additional 56,056 shares in the last quarter. Herbst Group LLC purchased a new stake in Corning in the 2nd quarter valued at about $4,474,000. Principal Financial Group Inc. increased its stake in Corning by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker's stock valued at $121,483,000 after buying an additional 10,591 shares during the last quarter. Finally, Wealthfront Advisers LLC lifted its position in shares of Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker's stock worth $12,567,000 after buying an additional 24,589 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on GLW. Wall Street Zen downgraded Corning from a "strong-buy" rating to a "buy" rating in a research note on Sunday. Truist Financial raised Corning from a "hold" rating to a "buy" rating and decreased their price target for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Weiss Ratings upgraded Corning from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 7th. UBS Group reissued a "buy" rating and issued a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. Finally, Mizuho reduced their price objective on Corning from $270.00 to $210.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $174.08.

Corning Trading Up 4.6%

NYSE:GLW opened at $165.85 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $142.86 billion, a PE ratio of 75.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. The firm's 50 day moving average is $176.82 and its 200 day moving average is $161.45. Corning Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating 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 business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. Corning'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. Sell-side analysts expect that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning's dividend payout ratio is presently 51.14%.

Insider Activity

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business'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 sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Company insiders own 0.25% of the company's stock.

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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