Ritholtz Wealth Management Acquires 5,905 Shares of Corning Incorporated $GLW

Ritholtz Wealth Management boosted its holdings in shares of Corning Incorporated (NYSE:GLW) by 118.9% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,871 shares of the electronics maker’s stock after purchasing an additional 5,905 shares during the period. Ritholtz Wealth Management’s holdings in Corning were worth $1,478,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of GLW. Berbice Capital Management LLC bought a new stake in shares of Corning during the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new position in shares of Corning in the fourth quarter valued at about $26,000. MBM Wealth Consultants LLC acquired a new position in Corning during the 1st quarter worth about $42,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Corning during the 3rd quarter worth about $25,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Corning during the 4th quarter worth about $27,000. Institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GLW. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Oppenheimer boosted their price objective on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Mizuho upped their price objective on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Truist Financial increased their price objective on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday, June 22nd. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average target price of $182.62.

Corning Stock Performance

Corning stock opened at $223.00 on Friday. The company has a market cap of $191.92 billion, a PE ratio of 106.70, a PEG ratio of 3.16 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $230.50. The company’s 50-day moving average is $184.70 and its two-hundred day moving average is $141.72.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 53.59%.

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.