NewEdge Wealth LLC Buys New Stake in Corning Incorporated $GLW

NewEdge Wealth LLC purchased a new stake in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 53,992 shares of the electronics maker’s stock, valued at approximately $13,791,000.

A number of other institutional investors have also modified their holdings of the stock. Berbice Capital Management LLC purchased a new stake in shares of Corning in the fourth quarter worth about $26,000. Basepoint Wealth LLC purchased a new position in Corning during the fourth quarter valued at approximately $26,000. Atwood & Palmer Inc. acquired a new position in Corning in the second quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in Corning in the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in Corning in the 4th quarter worth approximately $31,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Activity

In related news, CEO Wendell P. Weeks sold 100,000 shares of the firm’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 of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president 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. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by corporate insiders.

Corning Price Performance

Corning stock opened at $152.52 on Thursday. The company’s fifty day moving average price is $175.94 and its 200 day moving average price is $163.10. Corning Incorporated has a 1 year low of $63.37 and a 1 year high of $271.78. The stock has a market capitalization of $131.38 billion, a P/E ratio of 69.64, a P/E/G ratio of 2.05 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on GLW shares. Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and dropped their price target for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Morgan Stanley cut their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Citigroup decreased their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Finally, UBS Group reissued a “buy” rating and set a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.08.

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.