Clear Harbor Asset Management LLC Takes $2.11 Million Position in Corning Incorporated $GLW

Clear Harbor Asset Management LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, HoldingsChannel.com reports. The firm purchased 8,270 shares of the electronics maker’s stock, valued at approximately $2,112,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Atwood & Palmer Inc. acquired a new stake in Corning during the 2nd quarter worth approximately $26,000. First Community Trust NA acquired a new position in Corning in the 2nd quarter valued at approximately $72,000. N.E.W. Advisory Services LLC acquired a new position in Corning in the 2nd quarter valued at approximately $76,000. Berbice Capital Management LLC bought a new position in shares of Corning during the fourth quarter valued at $26,000. Finally, Basepoint Wealth LLC acquired a new position in shares of Corning during the fourth quarter worth $26,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Corning Stock Down 1.0%

Shares of NYSE GLW opened at $149.91 on Friday. The company’s 50 day moving average price is $174.83 and its 200-day moving average price is $163.35. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 52-week low of $65.09 and a 52-week high of $271.78. The company has a market capitalization of $129.13 billion, a P/E ratio of 68.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Corning (NYSE:GLW) last posted its quarterly earnings data 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. 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 analysts’ expectations of $4.63 billion. During the same period in the prior year, the company posted $0.60 earnings per share. Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Wall Street Analysts Forecast Growth

GLW has been the topic of several analyst reports. Susquehanna boosted their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Morgan Stanley lowered 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. UBS Group reaffirmed a “buy” rating and set a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. Oppenheimer reduced their price target on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. decreased their price target on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note 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’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.08.

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.