Csenge Advisory Group Acquires New Position in Corning Incorporated $GLW

Csenge Advisory Group acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, HoldingsChannel.com reports. The fund acquired 3,686 shares of the electronics maker’s stock, valued at approximately $941,000.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. AssuredPartners Investment Advisors LLC purchased a new position in shares of Corning in the second quarter worth about $7,227,000. Johnson Financial Group Inc. bought a new stake in shares of Corning in the second quarter valued at approximately $455,000. Tocqueville Asset Management L.P. purchased a new stake in shares of Corning during the 2nd quarter valued at approximately $44,003,000. one8zero8 LLC bought a new position in Corning in the 2nd quarter worth approximately $5,377,000. Finally, Addison Advisors LLC bought a new position in Corning in the 2nd quarter worth approximately $99,000. Institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Morgan Stanley lowered their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Oppenheimer cut their price target on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Barclays reduced their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Wall Street Zen lowered Corning from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Finally, Truist Financial raised Corning from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $205.00 to $175.00 in a report on Sunday, August 2nd. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Stock Performance

Corning stock opened at $152.52 on Thursday. Corning Incorporated has a 1-year low of $63.37 and a 1-year high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $131.38 billion, a PE ratio of 69.64, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14. The firm’s 50 day simple moving average is $175.94 and its 200 day simple moving average is $163.10.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid 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 (DPR) is currently 51.14%.

Insider Activity

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction dated 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 completion of the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by insiders.

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.