UNICOM Systems Inc. Takes $13.61 Million Position in Corning Incorporated $GLW

Key Points

• UNICOM Systems Inc. bought 53,300 Corning shares worth approximately $13.61 million in the second quarter, making GLW its 27th-largest holding and about 0.9% of its portfolio.
• Corning reported quarterly EPS of $0.78, beating estimates of $0.76, while revenue rose 17.1% year over year to $4.74 billion. The company also declared a quarterly dividend of $0.28 per share, yielding about 0.7% annually.
• Analyst sentiment remains broadly positive, with a consensus “Moderate Buy” rating and average price target of $174.08, although several firms recently reduced their targets. Corning insiders have sold roughly $30.7 million of stock over the past 90 days.

UNICOM Systems Inc. purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 53,300 shares of the electronics maker's stock, valued at approximately $13,614,000. Corning makes up approximately 0.9% of UNICOM Systems Inc.'s holdings, making the stock its 27th biggest holding.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Signature Equity Partners LLC lifted its position in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker's stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC increased its holdings in Corning by 0.8% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker's stock worth $1,094,000 after purchasing an additional 64 shares in the last quarter. Balefire LLC raised its stake in shares of Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker's stock worth $1,305,000 after purchasing an additional 65 shares during the last quarter. Millstone Evans Group LLC raised its stake in shares of Corning by 1.3% in the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker's stock worth $733,000 after purchasing an additional 67 shares during the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of Corning by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker's stock valued at $623,000 after purchasing an additional 70 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Insider Activity at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last 90 days. 0.25% of the stock is currently owned by company insiders.

Corning Stock Performance

Shares of Corning stock opened at $165.65 on Friday. The business's fifty day simple moving average is $179.73 and its 200 day simple moving average is $159.07. 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 Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78. The firm has a market capitalization of $142.69 billion, a P/E ratio of 75.64, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the company earned $0.60 EPS. The business'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. As a group, analysts anticipate that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

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

Analyst Ratings Changes

GLW has been the topic of several analyst reports. Barclays cut their target price on Corning from $180.00 to $129.00 and set an "equal weight" rating on the stock in a research report on Wednesday, July 29th. Weiss Ratings lowered Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, July 24th. Wall Street Zen upgraded shares of Corning from a "buy" rating to a "strong-buy" rating in a report on Saturday. Mizuho dropped their price target on shares of Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Finally, UBS Group restated a "buy" rating and set a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Corning currently has a consensus rating of "Moderate Buy" and an average price target of $174.08.

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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