Haverford Trust Co Takes $1.51 Million Position in Corning Incorporated $GLW

Haverford Trust Co bought a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 5,922 shares of the electronics maker’s stock, valued at approximately $1,513,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in 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 buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in shares of Corning during the first quarter valued at about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after acquiring an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Corning during the second quarter worth about $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in shares of Corning in the second quarter worth about $266,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by insiders.

Corning Trading Down 1.0%

NYSE:GLW opened at $149.91 on Friday. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $174.83 and its two-hundred day moving average is $163.35. Corning Incorporated has a 52 week low of $65.09 and a 52 week high of $271.78. The company has a market cap of $129.13 billion, a PE ratio of 68.45, a P/E/G ratio of 1.92 and a beta of 1.14.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate 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 analyst estimates of $4.63 billion. During the same quarter last year, the firm earned $0.60 EPS. The business’s 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 EPS for the current year.

Corning Dividend Announcement

The firm 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 $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 51.14%.

Analyst Ratings Changes

A number of research analysts recently commented on GLW shares. Truist Financial raised Corning from a “hold” rating to a “buy” rating and reduced their price target for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. Wall Street Zen lowered Corning from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. UBS Group reissued a “buy” rating and set a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Finally, Bank of America lifted their price target on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company 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.