EP Wealth Advisors LLC Buys Shares of 23,470 Corning Incorporated $GLW

EP Wealth Advisors LLC bought a new position in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 23,470 shares of the electronics maker’s stock, valued at approximately $5,995,000.

A number of other large investors have also made changes to their positions in GLW. Norges Bank bought a new position in Corning in the fourth quarter worth approximately $921,435,000. Bank of New York Mellon Corp purchased a new stake in shares of Corning in the 2nd quarter worth $1,510,911,000. Capital Research Global Investors raised its holdings in Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. Deutsche Bank AG bought a new position in Corning in the 2nd quarter worth $612,763,000. Finally, Polar Capital Holdings Plc lifted its position in Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of analysts have commented on GLW shares. Wall Street Zen cut Corning from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Bank of America lifted their price target on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. Barclays reduced their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Susquehanna lifted 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, Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Price Performance

Shares of NYSE:GLW opened at $149.91 on Friday. 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 firm has a fifty day moving average price of $174.83 and a 200 day moving average price of $163.35. Corning Incorporated has a fifty-two week low of $65.09 and a fifty-two week high of $271.78. The firm has a market cap of $129.13 billion, a price-to-earnings ratio of 68.45, a P/E/G ratio of 1.94 and a beta of 1.14.

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

Corning Announces Dividend

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