Pathway Financial Advisers LLC Has $2.54 Million Stock Holdings in Corning Incorporated $GLW

Pathway Financial Advisers LLC reduced its position in shares of Corning Incorporated (NYSE:GLW) by 10.8% in the 1st quarter, Holdings Channel reports. The firm owned 18,710 shares of the electronics maker’s stock after selling 2,265 shares during the period. Pathway Financial Advisers LLC’s holdings in Corning were worth $2,544,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning during the 3rd quarter worth $25,000. Berbice Capital Management LLC bought a new stake in shares of Corning during the fourth quarter worth about $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the 4th quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new position in Corning during the fourth quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in Corning during the fourth quarter worth approximately $31,000. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Up 15.7%

Shares of Corning stock opened at $255.79 on Tuesday. The company has a market cap of $220.14 billion, a price-to-earnings ratio of 122.39, a price-to-earnings-growth ratio of 3.16 and a beta of 1.15. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $186.49 and its 200 day moving average is $143.26. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $258.80.

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

Corning Announces Dividend

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 $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.4%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on GLW shares. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. boosted their price target on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Bank of America boosted their target price on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Barclays raised their price target on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Finally, Morgan Stanley set a $180.00 price objective on shares of Corning in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

Insider Activity at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, 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 directly 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 SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 over the last three months. Company insiders own 0.25% of the company’s stock.

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.