Evolve Private Wealth LLC Buys New Shares in Corning Incorporated $GLW

Evolve Private Wealth LLC purchased a new stake in shares of Corning Incorporated (NYSE:GLW) during the second quarter, Holdings Channel reports. The fund purchased 3,383 shares of the electronics maker’s stock, valued at approximately $864,000.

A number of other large investors have also recently bought and sold shares of GLW. Alliance Wealth Advisors LLC lifted its stake in shares of Corning by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after purchasing an additional 56 shares during the period. Ares Financial Consulting LLC boosted its position in shares of Corning by 15.6% during the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock valued at $113,000 after purchasing an additional 60 shares in the last quarter. Signature Equity Partners LLC grew its stake in Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after purchasing an additional 62 shares during the period. Beirne Wealth Consulting Services LLC grew its stake in Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after purchasing an additional 64 shares during the period. Finally, Balefire LLC increased its holdings in Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock worth $1,305,000 after purchasing an additional 65 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the business’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 sale, the chief executive officer directly owned 908,353 shares of the company’s stock, 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 legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by insiders.

Corning Trading Up 0.0%

NYSE GLW opened at $149.91 on Monday. The company has a market cap of $129.13 billion, a price-to-earnings ratio of 68.45, a P/E/G ratio of 1.92 and a beta of 1.14. Corning Incorporated has a 52 week low of $65.09 and a 52 week high of $271.78. The business has a 50 day moving average price of $174.83 and a 200-day moving average price of $163.72. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last issued 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 for the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the firm earned $0.60 earnings per share. Corning’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Citigroup dropped their price target on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. UBS Group reiterated a “buy” rating and issued a $196.00 price objective on shares of Corning in a research note on Wednesday, July 29th. Mizuho dropped their target price 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. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Monday. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company 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.