Nwam LLC Lowers Stock Holdings in Corning Incorporated $GLW

Nwam LLC trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 23.5% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 31,715 shares of the electronics maker’s stock after selling 9,765 shares during the quarter. Nwam LLC’s holdings in Corning were worth $8,101,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in GLW. Security National Bank boosted its position in Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after acquiring an additional 56,056 shares during the last quarter. Herbst Group LLC acquired a new position in Corning in the 2nd quarter valued at $4,474,000. Principal Financial Group Inc. raised its holdings in Corning by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after acquiring an additional 10,591 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in shares of Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares during the period. Finally, Atlas Wealth LLC boosted its holdings in shares of Corning by 137.8% during the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after purchasing an additional 6,998 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corning

In other Corning news, EVP Lewis A. Steverson sold 13,100 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.25% of the company’s stock.

Corning Stock Performance

NYSE GLW opened at $148.75 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a 1-year low of $66.14 and a 1-year high of $271.78. The firm has a market capitalization of $128.13 billion, a P/E ratio of 67.92, a P/E/G ratio of 1.91 and a beta of 1.14. The business’s 50-day simple moving average is $169.96 and its 200-day simple moving average is $164.98.

Corning (NYSE:GLW) last released its quarterly earnings data 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 company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts predict that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

The business 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s payout ratio is 51.14%.

Analyst Ratings Changes

Several equities analysts recently commented on the company. Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and dropped their target price for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Mizuho dropped their price objective on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. UBS Group reissued a “buy” rating and issued a $196.00 target price on shares of Corning in a research report on Wednesday, July 29th. Finally, Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Company 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.