Silvant Capital Management LLC Invests $3.04 Million in Corning Incorporated $GLW

Key Points

• Silvant Capital Management acquired 11,920 Corning shares worth approximately $3.04 million, while institutional investors collectively own 69.8% of GLW.
• CEO Wendell P. Weeks sold 100,000 shares for about $18.6 million, reducing his direct ownership by 9.92%; company insiders own 0.25% of the stock.
• Corning exceeded quarterly earnings and revenue estimates, reporting $0.78 in EPS and $4.74 billion in revenue, while analysts maintain a consensus “Moderate Buy” rating with a $174.08 price target.

Silvant Capital Management LLC acquired a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 11,920 shares of the electronics maker's stock, valued at approximately $3,045,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock worth $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new stake in Corning in the first quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock valued at $2,962,000 after purchasing an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Corning during the second quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in shares of Corning during the second quarter valued at about $266,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred on 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 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 sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Corporate insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GLW. Barclays reduced their target price on Corning from $180.00 to $129.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. Oppenheimer dropped their price target on Corning from $230.00 to $200.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 29th. Zacks Research lowered Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Weiss Ratings raised Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, August 7th. Finally, Bank of America boosted their price objective on Corning from $223.00 to $243.00 and gave the company a "buy" rating in a report on Monday, July 6th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $174.08.

Corning Stock Down 0.6%

Corning stock opened at $151.49 on Friday. The firm has a market capitalization of $130.49 billion, a price-to-earnings ratio of 69.17, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. The firm's fifty day moving average price is $175.43 and its two-hundred day moving average price is $163.44. Corning Incorporated has a 1-year low of $64.33 and a 1-year high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the firm posted $0.60 earnings per share. The firm'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. On average, equities research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning's payout ratio is currently 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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