Azzad Asset Management Inc. ADV Decreases Holdings in Corning Incorporated $GLW

Azzad Asset Management Inc. ADV trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 40.8% during the first quarter, Holdings Channel reports. The firm owned 32,943 shares of the electronics maker’s stock after selling 22,697 shares during the quarter. Azzad Asset Management Inc. ADV’s holdings in Corning were worth $4,479,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Berbice Capital Management LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of Corning in the 4th quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in Corning in the fourth quarter valued at approximately $27,000. Litman Gregory Wealth Management LLC acquired a new position in shares of Corning during the 4th quarter valued at $31,000. Finally, Evolution Wealth Management Inc. lifted its stake in shares of Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Performance

Shares of GLW opened at $192.53 on Friday. Corning Incorporated has a 52-week low of $51.32 and a 52-week high of $271.78. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $165.70 billion, a PE ratio of 92.12, a P/E/G ratio of 2.41 and a beta of 1.09. The firm has a 50-day moving average price of $192.40 and a 200 day moving average price of $149.67.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate 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 $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio is currently 53.59%.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction 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 at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over the last 90 days. 0.25% of the stock is owned by insiders.

Analysts Set New Price Targets

GLW has been the subject of several analyst reports. Barclays upped their target price on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Truist Financial raised their price target on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Mizuho upped their price target on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Oppenheimer lifted their price target on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $193.54.

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.