Perennial Investment Advisors LLC Takes $1.25 Million Position in Corning Incorporated $GLW

Perennial Investment Advisors LLC purchased a new stake in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 4,907 shares of the electronics maker’s stock, valued at approximately $1,253,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atalan Capital Partners LP purchased a new stake in shares of Corning during the 2nd quarter valued at about $152,568,000. Ausdal Financial Partners Inc. lifted its position in shares of Corning by 20.3% during the second quarter. Ausdal Financial Partners Inc. now owns 11,029 shares of the electronics maker’s stock worth $2,817,000 after purchasing an additional 1,861 shares in the last quarter. Bank of America Corp DE grew its holdings in Corning by 29.2% during the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after purchasing an additional 4,231,507 shares in the last quarter. Berkshire Capital Holdings Inc. increased its stake in Corning by 3.0% during the 2nd quarter. Berkshire Capital Holdings Inc. now owns 88,230 shares of the electronics maker’s stock worth $22,537,000 after buying an additional 2,540 shares during the period. Finally, Blodgett Wealth Advisors LLC acquired a new position in Corning in the 2nd quarter worth $224,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

GLW has been the subject of several recent analyst reports. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Barclays lowered their price objective on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Mizuho cut their target price on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Finally, Citigroup cut their price target on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 0.25% of the company’s stock.

Corning Trading Up 3.8%

NYSE GLW opened at $152.76 on Thursday. The firm has a market capitalization of $131.59 billion, a PE ratio of 69.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. Corning Incorporated has a one year low of $66.14 and a one year high of $271.78. The company has a 50-day simple moving average of $172.96 and a 200-day simple moving average of $164.50. 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 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 company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business’s revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The company 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s dividend payout ratio (DPR) 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.