Welch Capital Partners LLC NY Acquires New Position in Corning Incorporated $GLW

Welch Capital Partners LLC NY acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor acquired 4,194 shares of the electronics maker’s stock, valued at approximately $1,071,000. Corning makes up about 0.2% of Welch Capital Partners LLC NY’s holdings, making the stock its 16th biggest holding.

Several other hedge funds also recently made changes to their positions in the company. Compass Financial Management LLC bought a new stake in shares of Corning in the 2nd quarter valued at approximately $170,000. Elevation Point Wealth Partners LLC acquired a new position in Corning in the second quarter worth $2,503,000. Greenland Capital Management LP bought a new stake in Corning during the second quarter valued at $564,000. Alta Advisers Ltd acquired a new stake in shares of Corning during the second quarter worth $803,000. Finally, Daiichi Life Insurance Co. Ltd. bought a new position in shares of Corning in the 2nd quarter worth about $18,339,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on GLW. JPMorgan Chase & Co. lowered their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Oppenheimer lowered their target price on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Barclays cut their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Susquehanna upped their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Finally, Morgan Stanley cut their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Corning Price Performance

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

Corning (NYSE:GLW) last posted its 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 for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm’s 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. Analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

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

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on 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 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

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.