Signal Advisors Wealth LLC Acquires Shares of 5,629 Corning Incorporated $GLW

Key Points

• Signal Advisors Wealth LLC initiated a new position in Corning, buying 5,629 shares worth about $765,000 in the first quarter.
• Corning posted solid quarterly results, with EPS of $0.70 beating estimates and revenue of $4.34 billion topping expectations; the company also raised Q2 guidance to $0.73-$0.77 EPS.
• Analysts remain broadly positive on GLW, with several firms raising price targets and the stock carrying a consensus rating of Moderate Buy and an average target price of $182.62.

Signal Advisors Wealth LLC bought a new stake in Corning Incorporated (NYSE:GLW - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,629 shares of the electronics maker's stock, valued at approximately $765,000.

Several other large investors have also made changes to their positions in the company. Vanguard Group Inc. lifted its holdings in 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 purchasing an additional 580,678 shares during the last quarter. State Street Corp boosted its position in Corning by 1.2% in 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 buying an additional 439,883 shares in the last quarter. Geode Capital Management LLC grew its stake in Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock worth $1,781,250,000 after buying an additional 517,067 shares during the last quarter. Capital Research Global Investors grew its stake in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after buying an additional 3,848,540 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of Corning 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 completion of the sale, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 of the company's stock, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 over the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Corning Price Performance

GLW opened at $205.91 on Thursday. Corning Incorporated has a one year low of $51.09 and a one year high of $217.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The company's 50 day simple moving average is $182.50 and its 200-day simple moving average is $140.14. The stock has a market capitalization of $177.21 billion, a P/E ratio of 98.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results 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. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business posted $0.54 earnings per share. Corning's revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently announced 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 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Friday, May 29th. Corning's dividend payout ratio (DPR) is 53.59%.

Analysts Set New Price Targets

GLW has been the subject of a number of research analyst reports. Oppenheimer lifted their target price on shares of Corning from $120.00 to $210.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. UBS Group increased their price target on Corning from $223.00 to $228.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. Bank of America raised their price target on Corning from $155.00 to $186.00 and gave the company a "buy" rating in a report on Monday, April 20th. Zacks Research downgraded Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Mizuho boosted their price objective on Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 12th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corning currently has an average rating of "Moderate Buy" and a consensus target price of $182.62.

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.

Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW - Free Report).

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.