Peak Asset Management LLC Takes $1.56 Million Position in Corning Incorporated $GLW

Peak Asset Management LLC bought a new stake in Corning Incorporated (NYSE:GLW) during the second quarter, HoldingsChannel.com reports. The fund bought 6,105 shares of the electronics maker’s stock, valued at approximately $1,559,000.

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

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. UBS Group reissued a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Monday. Citigroup lowered their price target on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley reduced their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Finally, Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and dropped their price objective for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Trading Down 3.1%

GLW opened at $145.19 on Tuesday. 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 Incorporated has a twelve month low of $65.75 and a twelve month high of $271.78. The stock has a market capitalization of $125.07 billion, a price-to-earnings ratio of 66.30, a P/E/G ratio of 1.92 and a beta of 1.14. The company has a 50-day simple moving average of $174.00 and a 200 day simple moving average of $163.95.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the business posted $0.60 EPS. The firm’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. Analysts predict that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is currently 51.14%.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.25% of the company’s stock.

About Corning

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.