Providence First Trust Co Buys New Stake in Corning Incorporated $GLW

Providence First Trust Co purchased a new stake in shares of Corning Incorporated (NYSE:GLW) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,061 shares of the electronics maker’s stock, valued at approximately $969,000.

Several other institutional investors have also bought and sold shares of GLW. Vanguard Group Inc. increased its stake in Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after acquiring an additional 580,678 shares during the last quarter. State Street Corp lifted its stake in shares of Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after purchasing an additional 439,883 shares during the last quarter. Wellington Management Group LLP boosted its holdings in shares of Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares during the period. Finally, Capital Research Global Investors bought a new position in shares of Corning during the 3rd quarter valued at approximately $907,164,000. Institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In other news, EVP Lewis A. Steverson sold 15,366 shares of the stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the sale, the executive vice president directly owned 3,461 shares of the company’s stock, valued at $450,691.42. This represents a 81.62% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Avery H. Nelson III sold 6,262 shares of Corning stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $129.79, for a total value of $812,744.98. Following the completion of the transaction, the chief operating officer owned 61,371 shares of the company’s stock, valued at approximately $7,965,342.09. This represents a 9.26% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 177,256 shares of company stock worth $26,541,572. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on GLW. Barclays raised their price target on Corning from $100.00 to $149.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 29th. Truist Financial increased their target price on shares of Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Citigroup raised their target price on shares of Corning from $170.00 to $175.00 and gave the stock a “buy” rating in a report on Wednesday, April 29th. Oppenheimer set a $120.00 price target on shares of Corning in a research note on Thursday, January 29th. Finally, Mizuho set a $145.00 price objective on shares of Corning in a research report on Monday, February 23rd. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $150.31.

Corning Price Performance

Shares of NYSE GLW opened at $162.12 on Wednesday. Corning Incorporated has a 52 week low of $44.33 and a 52 week high of $179.08. The business’s 50 day moving average price is $149.11 and its 200 day moving average price is $113.75. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market cap of $139.53 billion, a P/E ratio of 77.57, a P/E/G ratio of 2.28 and a beta of 1.14.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts expect that Corning Incorporated will post 3.17 earnings per share for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio is currently 53.59%.

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.