28,319 Shares in Corning Incorporated $GLW Bought by Lee Johnson Capital Management LLC

Lee Johnson Capital Management LLC bought a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 28,319 shares of the electronics maker’s stock, valued at approximately $7,234,000. Corning comprises 2.3% of Lee Johnson Capital Management LLC’s holdings, making the stock its 10th largest holding.

Other institutional investors also recently modified their holdings of the company. Alliance Wealth Advisors LLC raised its position in shares of Corning by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after acquiring an additional 56 shares during the period. Ares Financial Consulting LLC grew its holdings in Corning by 15.6% during the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock valued at $113,000 after purchasing an additional 60 shares during the period. Signature Equity Partners LLC increased its stake in Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after purchasing an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC increased its stake in Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after purchasing an additional 64 shares in the last quarter. Finally, Balefire LLC raised its holdings in Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock worth $1,305,000 after purchasing an additional 65 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on GLW shares. Wall Street Zen lowered shares of Corning from a “strong-buy” rating to a “buy” rating in a report on Sunday. Citigroup dropped their price objective on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. UBS Group reissued a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Oppenheimer dropped 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, Barclays cut their price objective on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Insider Activity

In other news, SVP Jaymin Amin sold 27,395 shares of the 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 represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders own 0.25% of the company’s stock.

Corning Stock Performance

GLW opened at $173.29 on Tuesday. The company has a market capitalization of $149.27 billion, a price-to-earnings ratio of 79.13, a P/E/G ratio of 2.12 and a beta of 1.14. The business’s 50-day moving average price is $176.54 and its two-hundred day moving average price is $162.37. Corning Incorporated has a 1 year low of $63.37 and a 1 year high of $271.78. 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 posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 return on equity of 20.09% and a net margin of 11.20%.Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal 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 paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is presently 51.14%.

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.