TD Waterhouse Canada Inc. Cuts Stake in Corning Incorporated $GLW

TD Waterhouse Canada Inc. lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 1.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 436,618 shares of the electronics maker’s stock after selling 4,256 shares during the quarter. TD Waterhouse Canada Inc. owned approximately 0.05% of Corning worth $111,525,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Premier Path Wealth Partners LLC raised its position in Corning by 8.2% in the second quarter. Premier Path Wealth Partners LLC now owns 6,680 shares of the electronics maker’s stock worth $1,706,000 after acquiring an additional 505 shares during the period. Concurrent Investment Advisors LLC grew its position in shares of Corning by 103.2% during the 2nd quarter. Concurrent Investment Advisors LLC now owns 48,540 shares of the electronics maker’s stock valued at $12,399,000 after acquiring an additional 24,649 shares during the period. NEOS Investment Management LLC grew its position in shares of Corning by 12.6% during the 2nd quarter. NEOS Investment Management LLC now owns 125,922 shares of the electronics maker’s stock valued at $32,164,000 after acquiring an additional 14,106 shares during the period. Mason & Associates Inc increased its stake in shares of Corning by 28.5% during the 2nd quarter. Mason & Associates Inc now owns 7,705 shares of the electronics maker’s stock worth $1,968,000 after purchasing an additional 1,708 shares during the last quarter. Finally, Fortune 45 LLC increased its stake in shares of Corning by 3.0% during the 2nd quarter. Fortune 45 LLC now owns 4,926 shares of the electronics maker’s stock worth $1,259,000 after purchasing an additional 144 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other news, CEO Wendell Weeks sold 100,000 shares of Corning 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 sale, the chief executive officer 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lewis A. Steverson sold 13,100 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at $2,277,217.08. The trade was a 46.53% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on GLW shares. Bank of America upped their price objective on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Morgan Stanley lowered 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. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Finally, Oppenheimer decreased their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Corning Stock Performance

Corning stock opened at $146.00 on Friday. The firm’s 50 day simple moving average is $166.12 and its 200 day simple moving average is $165.25. 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 $125.76 billion, a PE ratio of 66.67, a price-to-earnings-growth ratio of 1.84 and a beta of 1.16. Corning Incorporated has a 1-year low of $69.39 and a 1-year high of $271.78.

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 0.8%. Corning’s dividend payout ratio (DPR) is currently 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.