Cary Street Partners Financial LLC Buys 3,438 Shares of Corning Incorporated $GLW

Cary Street Partners Financial LLC raised its stake in Corning Incorporated (NYSE:GLW) by 3.0% in the fourth quarter, Holdings Channel reports. The firm owned 118,845 shares of the electronics maker’s stock after acquiring an additional 3,438 shares during the quarter. Cary Street Partners Financial LLC’s holdings in Corning were worth $10,406,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC lifted its position in shares of Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after buying an additional 6,493 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ lifted its position in shares of Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after buying an additional 12,297 shares during the last quarter. Security National Bank lifted its position in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after buying an additional 56,056 shares during the last quarter. Three Seasons Wealth LLC acquired a new stake in shares of Corning in the fourth quarter valued at approximately $1,750,000. Finally, Natixis Advisors LLC lifted its position in shares of Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after buying an additional 116,583 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the transaction, the chief executive officer owned 750,585 shares in the company, valued at approximately $116,618,391.45. This trade represents a 15.48% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 170,774 shares of company stock worth $28,148,435. 0.25% of the stock is currently owned by company insiders.

Corning Price Performance

Corning stock opened at $193.83 on Tuesday. The stock’s fifty day moving average price is $162.85 and its two-hundred day moving average price is $124.03. Corning Incorporated has a one year low of $47.67 and a one year high of $211.79. 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 firm has a market cap of $166.82 billion, a PE ratio of 92.74, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the company earned $0.54 EPS. The company’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Fox Advisors cut Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Susquehanna lifted their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Mizuho lifted their price target on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Barclays lifted their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.92.

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.