Perfromance Wealth Partners LLC Acquires 2,261 Shares of Corning Incorporated $GLW

Perfromance Wealth Partners LLC increased its holdings in shares of Corning Incorporated (NYSE:GLW) by 13.5% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 19,058 shares of the electronics maker’s stock after buying an additional 2,261 shares during the quarter. Perfromance Wealth Partners LLC’s holdings in Corning were worth $1,002,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Brighton Jones LLC lifted its holdings in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after acquiring an additional 2,114 shares during the last quarter. GAMMA Investing LLC increased its position in Corning by 29.2% during the 1st quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker’s stock worth $520,000 after purchasing an additional 2,567 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Corning by 1.9% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 1,300,954 shares of the electronics maker’s stock valued at $59,558,000 after purchasing an additional 23,781 shares during the last quarter. Dynamic Advisor Solutions LLC boosted its position in Corning by 1.3% in the first quarter. Dynamic Advisor Solutions LLC now owns 22,379 shares of the electronics maker’s stock valued at $1,024,000 after buying an additional 297 shares in the last quarter. Finally, Hanson & Doremus Investment Management grew its stake in shares of Corning by 7.5% during the first quarter. Hanson & Doremus Investment Management now owns 155,747 shares of the electronics maker’s stock worth $7,130,000 after buying an additional 10,813 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. Susquehanna reiterated a “positive” rating and issued a $75.00 target price (up from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Mizuho raised their price objective on shares of Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Finally, Argus reiterated a “buy” rating and set a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Insiders Place Their Bets

In other Corning news, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president owned 35,743 shares of the company’s stock, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the sale, the chief operating officer owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. The trade was a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock valued at $11,816,899 over the last quarter. Company insiders own 0.32% of the company’s stock.

Corning Price Performance

Corning stock opened at $85.59 on Tuesday. The stock’s 50 day moving average is $73.63 and its 200 day moving average is $57.60. Corning Incorporated has a one year low of $37.31 and a one year high of $87.78. The firm has a market cap of $73.32 billion, a P/E ratio of 91.05, a P/E/G ratio of 1.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the firm posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio (DPR) is currently 119.15%.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.