Clearstead Trust LLC Makes New $2.45 Million Investment in Corning Incorporated $GLW

Clearstead Trust LLC bought a new stake in shares of Corning Incorporated (NYSE:GLW) during the second quarter, Holdings Channel reports. The fund bought 9,592 shares of the electronics maker’s stock, valued at approximately $2,450,000.

Several other large investors have also modified their holdings of GLW. Brighton Jones LLC boosted its stake in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in Corning in the first quarter worth approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 5,522 shares during the period. Sivia Capital Partners LLC purchased a new position in shares of Corning in the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. purchased a new position in shares of Corning in the 2nd quarter valued at $266,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of Corning stock opened at $165.85 on Friday. Corning Incorporated has a 52 week low of $63.37 and a 52 week high of $271.78. The company has a 50 day moving average price of $176.82 and a 200 day moving average price of $161.45. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $142.86 billion, a P/E ratio of 75.73, a PEG ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period in the previous year, the company earned $0.60 earnings per share. The business’s quarterly 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. Sell-side analysts expect that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is presently 51.14%.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company’s 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 sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GLW shares. UBS Group restated a “buy” rating and set a $196.00 price objective on shares of Corning in a research note on Wednesday, July 29th. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Morgan Stanley decreased their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Mizuho lowered their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Finally, Citigroup cut their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target 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.