49,702 Shares in Corning Incorporated $GLW Bought by Geneva Partners LLC

Geneva Partners LLC acquired a new stake in Corning Incorporated (NYSE:GLW) during the second quarter, HoldingsChannel reports. The firm acquired 49,702 shares of the electronics maker’s stock, valued at approximately $12,695,000. Corning accounts for 3.4% of Geneva Partners LLC’s holdings, making the stock its 10th largest position.

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

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction 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 trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, 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 SEC filing for this sale provides additional information. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. JPMorgan Chase & Co. dropped their target price on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Morgan Stanley lowered their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Citigroup dropped their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Barclays cut their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Finally, UBS Group restated a “buy” rating and issued a $196.00 target price on shares of Corning in a research note 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.com, Corning has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Price Performance

Shares of NYSE GLW opened at $152.52 on Thursday. The firm has a market capitalization of $131.38 billion, a P/E ratio of 69.64, a PEG ratio of 2.05 and a beta of 1.14. Corning Incorporated has a one year low of $63.37 and a one year high of $271.78. The company’s fifty day moving average is $175.94 and its two-hundred day moving average is $163.10. 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 (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating 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 business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the firm posted $0.60 EPS. The business’s revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is presently 51.14%.

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.