SteelPeak Wealth LLC Has $315,000 Stock Position in Corning Incorporated $GLW

SteelPeak Wealth LLC decreased its position in Corning Incorporated (NYSE:GLW) by 8.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 5,981 shares of the electronics maker’s stock after selling 569 shares during the period. SteelPeak Wealth LLC’s holdings in Corning were worth $315,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in GLW. Forte Capital LLC ADV grew its position in Corning by 2.4% during the second quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock worth $419,000 after buying an additional 190 shares in the last quarter. Smith Salley Wealth Management boosted its holdings in shares of Corning by 3.3% in the 2nd quarter. Smith Salley Wealth Management now owns 6,280 shares of the electronics maker’s stock valued at $330,000 after purchasing an additional 200 shares in the last quarter. Leigh Baldwin & CO. LLC boosted its holdings in shares of Corning by 1.7% in the 1st quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker’s stock valued at $573,000 after purchasing an additional 210 shares in the last quarter. Old North State Wealth Management LLC boosted its holdings in shares of Corning by 0.5% in the 2nd quarter. Old North State Wealth Management LLC now owns 40,325 shares of the electronics maker’s stock valued at $2,121,000 after purchasing an additional 218 shares in the last quarter. Finally, Harbour Investments Inc. boosted its holdings in shares of Corning by 2.4% in the 1st quarter. Harbour Investments Inc. now owns 9,489 shares of the electronics maker’s stock valued at $434,000 after purchasing an additional 224 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Transactions at Corning

In related news, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the transaction, the senior vice president owned 88,722 shares in the company, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is owned by insiders.

Corning Stock Performance

GLW stock opened at $87.24 on Friday. The stock has a 50-day moving average price of $72.77 and a 200-day moving average price of $56.94. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $87.75. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The firm has a market cap of $74.73 billion, a PE ratio of 92.81, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14.

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

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s payout ratio is presently 119.15%.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GLW. Morgan Stanley set a $56.00 target price on Corning and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Susquehanna reaffirmed a “positive” rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. UBS Group raised their target price on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Citigroup raised their target price on Corning from $72.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. Finally, Argus reissued a “buy” rating and set a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. One research 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. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.42.

Corning Company 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.