Lewis Asset Management LLC Invests $435,000 in Corning Incorporated $GLW

Lewis Asset Management LLC acquired a new stake in Corning Incorporated (NYSE:GLW) in the 1st quarter, Holdings Channel.com reports. The fund acquired 3,197 shares of the electronics maker’s stock, valued at approximately $435,000.

Other hedge funds have also added to or reduced their stakes in the company. KRS Capital Management LLC increased its position in Corning by 2.2% in the 1st quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock valued at $552,000 after acquiring an additional 88 shares during the period. Sheets Smith Wealth Management increased its holdings in Corning by 2.1% in the first quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock valued at $605,000 after purchasing an additional 90 shares during the period. Beese Fulmer Investment Management Inc. raised its position in Corning by 2.5% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after purchasing an additional 92 shares during the last quarter. 3Chopt Investment Partners LLC raised its position in Corning by 1.0% during the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after purchasing an additional 97 shares during the last quarter. Finally, Patten & Patten Inc. TN lifted its holdings in Corning by 0.6% during the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after buying an additional 100 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock worth $30,692,560 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Corning Stock Down 2.2%

Shares of Corning stock opened at $223.00 on Friday. The stock’s 50-day moving average is $184.70 and its 200 day moving average is $141.72. Corning Incorporated has a one year low of $51.32 and a one year high of $230.50. The firm has a market cap of $191.92 billion, a price-to-earnings ratio of 106.70, a PEG ratio of 3.26 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. Corning’s payout ratio is currently 53.59%.

Wall Street Analysts Forecast Growth

GLW has been the subject of several recent research reports. Citigroup increased their price target on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. upped their target price on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Susquehanna increased their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Bank of America raised their price target on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $182.62.

About Corning

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.