Peachtree Investment Partners LLC Makes New Investment in Corning Incorporated $GLW

Peachtree Investment Partners LLC bought a new position in Corning Incorporated (NYSE:GLW) in the second quarter, Holdings Channel reports. The firm bought 9,784 shares of the electronics maker’s stock, valued at approximately $2,499,000. Corning makes up about 0.8% of Peachtree Investment Partners LLC’s investment portfolio, making the stock its 22nd largest position.

Several other hedge funds have also recently made changes to their positions in the company. Merit Financial Group LLC lifted its holdings in Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 6,493 shares during the last quarter. Security National Bank increased its stake in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after purchasing an additional 56,056 shares in the last quarter. Herbst Group LLC bought a new stake in shares of Corning in the second quarter valued at approximately $4,474,000. Principal Financial Group Inc. raised its position in shares of Corning by 1.2% in the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after purchasing an additional 10,591 shares during the period. Finally, Wealthfront Advisers LLC lifted its stake in shares of Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after buying an additional 24,589 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, 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 stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and reduced their price objective for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. UBS Group reaffirmed a “buy” rating and issued a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. Citigroup reduced their price target on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Finally, Bank of America boosted their price objective on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Corning Stock Performance

NYSE GLW opened at $165.85 on Monday. The company’s 50 day simple moving average is $176.82 and its two-hundred day simple moving average is $161.92. 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 Incorporated has a 1 year low of $63.37 and a 1 year high of $271.78. The stock has a market capitalization of $142.86 billion, a PE ratio of 75.73, a P/E/G ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts predict that Corning Incorporated will post 3.27 earnings per share 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 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%.

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.