Texas Capital Bank Wealth Management Services Inc Invests $797,000 in Corning Incorporated $GLW

Texas Capital Bank Wealth Management Services Inc bought a new position in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 3,122 shares of the electronics maker’s stock, valued at approximately $797,000.

A number of other institutional investors have also recently bought and sold shares of GLW. Brighton Jones LLC increased its position in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Corning in the 1st quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares during the period. Sivia Capital Partners LLC purchased a new stake in shares of Corning during the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in shares of Corning during the 2nd quarter worth $266,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, 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 trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly 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. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by corporate insiders.

Corning Trading Up 4.4%

NYSE:GLW opened at $173.29 on Tuesday. The business’s 50-day moving average is $176.54 and its two-hundred day moving average is $162.37. The firm has a market capitalization of $149.27 billion, a PE ratio of 79.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. Corning Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78. 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 (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company’s 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. Research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is currently 51.14%.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on GLW. UBS Group reaffirmed a “buy” rating and issued a $196.00 target price on shares of Corning in a research report on Wednesday, July 29th. Oppenheimer lowered their price target on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report 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. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and reduced their price target for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Finally, Morgan Stanley decreased their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note 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, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning 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.