Rational Advisors Inc. Reduces Stake in Corning Incorporated $GLW

Rational Advisors Inc. lessened its holdings in shares of Corning Incorporated (NYSE:GLW) by 76.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 1,837 shares of the electronics maker’s stock after selling 5,850 shares during the period. Rational Advisors Inc.’s holdings in Corning were worth $469,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Atwood & Palmer Inc. purchased a new position in Corning in the second quarter valued at approximately $26,000. Burk Holdings LLC acquired a new stake in Corning during the second quarter worth approximately $53,000. Delos Wealth Advisors LLC purchased a new stake in shares of Corning during the 2nd quarter worth approximately $55,000. Aberdeen Wealth Management LLC purchased a new stake in shares of Corning during the 2nd quarter worth approximately $57,000. Finally, Caitlin John LLC acquired a new position in shares of Corning in the 2nd quarter valued at $64,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of Corning stock opened at $148.87 on Friday. The firm’s fifty day simple moving average is $171.18 and its 200-day simple moving average is $164.60. Corning Incorporated has a 12 month low of $66.14 and a 12 month high of $271.78. The stock has a market capitalization of $128.23 billion, a price-to-earnings ratio of 67.98, a PEG ratio of 1.91 and a beta of 1.14. 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 (NYSE:GLW) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during 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%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The company 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 $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 51.14%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on the stock. Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Barclays decreased 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. Oppenheimer dropped their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Finally, Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and cut their target price for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Insider Transactions 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 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 represents a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

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.