Hershey Financial Advisers LLC Buys Shares of 11,101 Corning Incorporated $GLW

Hershey Financial Advisers LLC purchased a new position in Corning Incorporated (NYSE:GLW) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 11,101 shares of the electronics maker’s stock, valued at approximately $1,509,000.

A number of other hedge funds also recently modified their holdings of GLW. Beirne Wealth Consulting Services LLC lifted its holdings in shares of Corning by 0.8% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after purchasing an additional 64 shares in the last quarter. Millstone Evans Group LLC increased its stake in Corning by 1.3% during the 1st quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock worth $733,000 after purchasing an additional 67 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in Corning by 1.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock worth $623,000 after buying an additional 70 shares during the period. Caldwell Trust Co raised its holdings in Corning by 0.5% during the 1st quarter. Caldwell Trust Co now owns 15,893 shares of the electronics maker’s stock worth $2,161,000 after buying an additional 74 shares during the period. Finally, KRS Capital Management LLC lifted its stake in Corning by 2.2% in the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock valued at $552,000 after buying an additional 88 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by insiders.

Corning Trading Down 2.5%

NYSE:GLW opened at $154.47 on Friday. The company has a market cap of $132.94 billion, a P/E ratio of 73.91, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. Corning Incorporated has a twelve month low of $53.29 and a twelve month high of $271.78. The business has a 50 day moving average price of $192.81 and a two-hundred day moving average price of $152.85. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate 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 period last year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts expect that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is 53.59%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GLW. UBS Group set a $243.00 price target on shares of Corning in a report on Monday, July 6th. Susquehanna raised their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price objective 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. Mizuho upped their target price on shares of Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Finally, Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $194.69.

Corning Company 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.