Krilogy Financial LLC Buys 7,996 Shares of Corning Incorporated $GLW

Krilogy Financial LLC lifted its stake in shares of Corning Incorporated (NYSE:GLW) by 67.7% during the first quarter, HoldingsChannel.com reports. The fund owned 19,808 shares of the electronics maker’s stock after buying an additional 7,996 shares during the quarter. Krilogy Financial LLC’s holdings in Corning were worth $2,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in shares of Corning during the third quarter valued at $25,000. Berbice Capital Management LLC bought a new position in Corning during the 4th quarter worth about $26,000. Basepoint Wealth LLC bought a new position in Corning during the 4th quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in Corning during the 4th quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in shares of Corning in the 4th quarter valued at about $31,000. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Susquehanna increased their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley set a $180.00 price objective on Corning in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Corning has an average rating of “Moderate Buy” and an average price target of $182.62.

Corning Trading Up 6.1%

NYSE GLW opened at $205.91 on Thursday. Corning Incorporated has a 52 week low of $51.09 and a 52 week high of $217.09. The company has a 50 day moving average price of $182.50 and a 200 day moving average price of $140.14. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market cap of $177.21 billion, a PE ratio of 98.52, a price-to-earnings-growth ratio of 2.78 and a beta of 1.15.

Corning (NYSE:GLW) last announced its earnings results 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. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the firm earned $0.54 earnings per share. Corning’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio is currently 53.59%.

Insider Transactions at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was 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 $18,138,016. The trade was a 22.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by corporate insiders.

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.