Marietta Wealth Management LLC Buys New Position in Corning Incorporated $GLW

Marietta Wealth Management LLC purchased a new stake in Corning Incorporated (NYSE:GLW) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 59,148 shares of the electronics maker’s stock, valued at approximately $4,852,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. REAP Financial Group LLC lifted its position in shares of Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after purchasing an additional 339 shares during the period. Total Investment Management Inc. bought a new position in Corning in the second quarter worth about $28,000. Financial Management Professionals Inc. lifted its holdings in Corning by 111.1% in the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after buying an additional 200 shares during the period. Banque Transatlantique SA bought a new stake in Corning during the 1st quarter valued at approximately $34,000. Finally, Resources Management Corp CT ADV grew its holdings in shares of Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 300 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Price Performance

Shares of NYSE:GLW opened at $88.82 on Wednesday. The firm’s 50 day simple moving average is $86.43 and its two-hundred day simple moving average is $73.70. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $96.64. The company has a market capitalization of $76.15 billion, a P/E ratio of 56.21, a P/E/G ratio of 1.95 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company earned $0.54 EPS. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio is currently 70.89%.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on GLW. JPMorgan Chase & Co. raised their target price on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Mizuho set a $97.00 price objective on Corning in a research report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Monday. Barclays boosted their price objective on shares of Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. Finally, UBS Group reaffirmed a “buy” rating and set a $109.00 target price (up previously from $100.00) on shares of Corning in a research note on Friday, November 21st. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $93.09.

Insiders Place Their Bets

In other Corning news, SVP Stefan Becker sold 12,100 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the sale, the senior vice president owned 5,049 shares in the company, valued at $460,872.72. This trade represents a 70.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the business’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the sale, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at $6,110,008.75. This represents a 23.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 156,135 shares of company stock worth $14,088,769. Insiders own 0.32% 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.