Corning Incorporated $GLW Position Lessened by Kwmg LLC

Kwmg LLC lowered its position in Corning Incorporated (NYSE:GLW) by 4.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,488 shares of the electronics maker’s stock after selling 5,531 shares during the quarter. Corning makes up approximately 2.1% of Kwmg LLC’s holdings, making the stock its 14th biggest position. Kwmg LLC’s holdings in Corning were worth $28,477,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Berbice Capital Management LLC acquired a new position in shares of Corning during the 4th quarter worth $26,000. Basepoint Wealth LLC acquired a new position in Corning during the fourth quarter worth $26,000. MBM Wealth Consultants LLC acquired a new position in Corning during the first quarter worth $42,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Corning in the fourth quarter worth about $27,000. Finally, IMG Wealth Management Inc. bought a new stake in shares of Corning during the 1st quarter worth about $43,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Up 5.4%

Shares of NYSE:GLW opened at $165.65 on Friday. Corning Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78. The company’s 50-day moving average price is $179.73 and its two-hundred day moving average price is $159.07. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a market cap of $142.69 billion, a P/E ratio of 75.64, a P/E/G ratio of 2.01 and a beta of 1.14.

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 analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous 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. As a group, research analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

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 issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio is currently 51.14%.

Insider Transactions at Corning

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were 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 trade represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 160,655 shares of company stock worth $30,692,560. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the subject of a number of recent analyst reports. Morgan Stanley decreased their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Oppenheimer decreased their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Barclays dropped their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, JPMorgan Chase & Co. lowered their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $174.08.

About Corning

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.