Pallas Capital Advisors LLC Takes $2.91 Million Position in Corning Incorporated $GLW

Pallas Capital Advisors LLC bought a new position in Corning Incorporated (NYSE:GLW) during the 2nd quarter, HoldingsChannel reports. The fund bought 11,398 shares of the electronics maker’s stock, valued at approximately $2,911,000.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC boosted its holdings in shares of Corning by 46.0% in the 4th 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. acquired a new stake in Corning during the 1st quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in Corning by 9.3% during the 1st 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 bought a new position in Corning in the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. bought a new position in Corning in the 2nd quarter valued at $266,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Up 4.4%

Shares of GLW opened at $173.29 on Tuesday. The business’s fifty day moving average price is $176.54 and its two-hundred day moving average price is $162.37. The firm has a market capitalization of $149.27 billion, a price-to-earnings ratio of 79.13, a PEG ratio of 2.12 and a beta of 1.14. Corning Incorporated has a 52 week low of $63.37 and a 52 week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping 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 company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The firm’s quarterly revenue 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, analysts predict that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The company 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 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 51.14%.

Insider Transactions at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently commented on the company. Susquehanna increased their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Mizuho reduced 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. UBS Group reissued a “buy” rating and set a $196.00 price objective on shares of Corning in a report on Wednesday, July 29th. Finally, Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Eleven analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus 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.