Wealth Effects LLC Makes New Investment in Corning Incorporated $GLW

Wealth Effects LLC purchased a new stake in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 4,797 shares of the electronics maker’s stock, valued at approximately $1,225,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GLW. Trivium Point Advisory LLC acquired a new position in shares of Corning during the second quarter worth approximately $859,000. N.E.W. Advisory Services LLC acquired a new stake in Corning in the 2nd quarter valued at approximately $76,000. HBK Sorce Advisory LLC acquired a new stake in Corning in the 2nd quarter valued at approximately $1,162,000. Abbot Financial Management Inc. bought a new stake in Corning during the 2nd quarter valued at $10,212,000. Finally, Peachtree Investment Partners LLC acquired a new position in Corning during the 2nd quarter worth $2,499,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

GLW has been the subject of several recent analyst reports. Bank of America increased their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Barclays cut their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. JPMorgan Chase & Co. decreased their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Susquehanna raised their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Finally, UBS Group restated a “buy” rating and set a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.08.

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This 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.

Corning Stock Down 0.1%

Shares of GLW stock opened at $165.85 on Monday. Corning Incorporated has a 1 year low of $63.37 and a 1 year high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The business’s fifty day moving average is $176.82 and its 200-day moving average is $161.92. The stock has a market cap of $142.86 billion, a PE ratio of 75.73, a price-to-earnings-growth 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 the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the firm posted $0.60 earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

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.