Corning (NYSE:GLW) Shares Acquired Rep. Robert Bresnahan, Jr.

Representative Robert Bresnahan, Jr. (R-Pennsylvania) recently bought shares of Corning Incorporated NYSE: GLW. In a filing disclosed on May 08th, the Representative disclosed that they had bought between $1,001 and $15,000 in Corning stock on April 8th. The trade occurred in the Representative's "JP MORGAN BROKERAGE ACCOUNT" account.

Representative Robert Bresnahan, Jr. also recently made the following trade(s):

• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/17/2025.
• Sold $1,001 - $15,000 in shares of Meta Platforms NASDAQ: META on 4/16/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of Alphabet NASDAQ: GOOG on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of Texas Instruments NASDAQ: TXN on 4/11/2025.
• Purchased $1,001 - $15,000 in shares of NVIDIA NASDAQ: NVDA on 4/11/2025.
• Sold $1,001 - $15,000 in shares of Western Digital NASDAQ: WDC on 4/10/2025.
• Sold $1,001 - $15,000 in shares of DexCom NASDAQ: DXCM on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Invesco NYSE: IVZ on 4/8/2025.
• Sold $1,001 - $15,000 in shares of Generac NYSE: GNRC on 4/8/2025.

Corning Stock Performance

GLW traded up $0.63 during trading hours on Tuesday, hitting $47.60. The stock had a trading volume of 875,703 shares, compared to its average volume of 5,922,185. The stock has a market cap of $40.77 billion, a PE ratio of 82.07, a price-to-earnings-growth ratio of 1.50 and a beta of 1.09. Corning Incorporated has a 1 year low of $34.15 and a 1 year high of $55.33. The company has a quick ratio of 1.07, a current ratio of 1.62 and a debt-to-equity ratio of 0.62. The company's fifty day simple moving average is $44.42 and its 200 day simple moving average is $47.49.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, April 29th. The electronics maker reported $0.54 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.51 by $0.03. Corning had a return on equity of 15.10% and a net margin of 3.86%. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.63 billion. The business's quarterly revenue was up 12.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.38 earnings per share. Equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, June 27th. Shareholders of record on Friday, May 30th will be paid a $0.28 dividend. The ex-dividend date is Friday, May 30th. This represents a $1.12 annualized dividend and a dividend yield of 2.35%. Corning's payout ratio is presently 215.38%.

Hedge Funds Weigh In On Corning

Hedge funds and other institutional investors have recently modified their holdings of the stock. Sound Income Strategies LLC grew its holdings in Corning by 76.7% in the fourth quarter. Sound Income Strategies LLC now owns 523 shares of the electronics maker's stock worth $25,000 after purchasing an additional 227 shares during the period. Sierra Ocean LLC purchased a new position in shares of Corning in the 4th quarter worth $25,000. Asset Planning Inc purchased a new stake in shares of Corning during the 4th quarter valued at about $29,000. Vermillion Wealth Management Inc. bought a new stake in shares of Corning during the 4th quarter valued at $29,000. Finally, Putney Financial Group LLC purchased a new stake in Corning in the fourth quarter worth about $30,000. Hedge funds and other institutional investors own 69.80% of the company's stock.

Insiders Place Their Bets

In related news, SVP Michael Alan Bell sold 20,262 shares of the company's stock in a transaction on Wednesday, April 30th. The shares were sold at an average price of $44.06, for a total transaction of $892,743.72. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GLW has been the topic of several recent analyst reports. JPMorgan Chase & Co. lowered their target price on shares of Corning from $62.00 to $50.00 and set an "overweight" rating on the stock in a research note on Thursday, April 17th. StockNews.com lowered Corning from a "buy" rating to a "hold" rating in a research note on Tuesday, February 25th. Hsbc Global Res upgraded shares of Corning from a "hold" rating to a "strong-buy" rating in a research report on Thursday, January 30th. Bank of America raised their price target on Corning from $65.00 to $68.00 and gave the stock a "buy" rating in a research report on Wednesday, March 19th. Finally, Barclays lowered their price objective on Corning from $53.00 to $52.00 and set an "equal weight" rating for the company in a research report on Wednesday, January 29th. Four equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $53.08.

About Representative Bresnahan

Rob Bresnahan Jr. (Republican Party) is a member of the U.S. House, representing Pennsylvania's 8th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027. Bresnahan (Republican Party) is running for re-election to the U.S. House to represent Pennsylvania's 8th Congressional District. He declared candidacy for the 2026 election. Rob Bresnahan Jr. was born in Kingston, Pennsylvania. He earned a B.S. in business administration, management and operations from the University of Scranton in 2012. His career experience includes working as the chief financial officer and CEO of a family business, an electrical contracting company.

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.