Janney Montgomery Scott LLC Buys 149,227 Shares of Corning Incorporated $GLW

Janney Montgomery Scott LLC raised its stake in Corning Incorporated (NYSE:GLW) by 32.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 607,765 shares of the electronics maker’s stock after purchasing an additional 149,227 shares during the period. Janney Montgomery Scott LLC’s holdings in Corning were worth $82,638,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning during the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new stake in Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning during the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the fourth quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in shares of Corning during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the business’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. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last three months. Insiders own 0.25% of the company’s stock.

Corning Trading Down 2.2%

Shares of Corning stock opened at $223.00 on Friday. The stock has a fifty day simple moving average of $184.70 and a 200 day simple moving average of $141.72. Corning Incorporated has a 12-month low of $51.32 and a 12-month high of $230.50. The company has a market capitalization of $191.92 billion, a P/E ratio of 106.70, a price-to-earnings-growth ratio of 3.16 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s revenue was up 18.1% on a year-over-year basis. During the same period last year, the business earned $0.54 EPS. 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 company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Truist Financial lifted their price target on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. JPMorgan Chase & Co. upped their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Susquehanna boosted their target price on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

Corning 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.