Occidental Asset Management LLC Buys New Position in Corning Incorporated $GLW

Occidental Asset Management LLC purchased a new position in Corning Incorporated (NYSE:GLW) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 13,990 shares of the electronics maker’s stock, valued at approximately $3,573,000.

Other large investors have also added to or reduced their stakes in the company. Dunhill Financial LLC purchased a new position in Corning during the 2nd quarter valued at $109,000. Pallas Capital Advisors LLC purchased a new stake in shares of Corning in the 2nd quarter worth about $2,911,000. Performance Wealth Partners LLC purchased a new stake in shares of Corning in the 2nd quarter worth about $4,127,000. Deutsche Bank AG bought a new stake in shares of Corning during the 2nd quarter valued at about $612,763,000. Finally, Commerzbank Aktiengesellschaft FI purchased a new position in shares of Corning during the second quarter valued at about $21,260,000. Institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLW. UBS Group reissued a “buy” rating and issued a $196.00 price target on shares of Corning in a research note on Wednesday, July 29th. Susquehanna upped their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. decreased their target price on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Finally, Citigroup dropped their price target on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Performance

Shares of GLW opened at $173.29 on Tuesday. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average price is $176.54 and its 200-day moving average price is $162.37. Corning Incorporated has a 52 week low of $63.37 and a 52 week high of $271.78. The stock has a market cap of $149.27 billion, a P/E ratio of 79.13, a P/E/G ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 20.09% and a net margin of 11.20%.The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. 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 declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Insider Activity

In other news, 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 transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by insiders.

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.