Lafayette Investments Inc. Has $3.32 Million Position in Corning Incorporated $GLW

Lafayette Investments Inc. lowered its position in Corning Incorporated (NYSE:GLW) by 7.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 37,871 shares of the electronics maker’s stock after selling 2,909 shares during the quarter. Lafayette Investments Inc.’s holdings in Corning were worth $3,316,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning in the third quarter valued at approximately $25,000. Strengthening Families & Communities LLC acquired a new stake in Corning during the 3rd quarter valued at approximately $27,000. Cornerstone Planning Group LLC increased its position in Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 124 shares during the period. JPL Wealth Management LLC acquired a new stake in Corning during the 3rd quarter valued at approximately $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Corning during the 4th quarter valued at approximately $35,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling

In related news, VP John Z. Zhang sold 1,531 shares of the stock in a transaction on Thursday, February 12th. The stock was sold at an average price of $133.75, for a total value of $204,771.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the transaction, the chief executive officer owned 750,585 shares in the company, valued at approximately $116,618,391.45. This represents a 15.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 140,628 shares of company stock worth $21,774,117 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Corning Stock Performance

Shares of GLW stock opened at $206.99 on Tuesday. The company has a market cap of $178.14 billion, a price-to-earnings ratio of 99.04, a price-to-earnings-growth ratio of 2.68 and a beta of 1.14. Corning Incorporated has a 52 week low of $46.34 and a 52 week high of $208.92. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a 50 day moving average of $152.13 and a 200-day moving average of $116.67.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Analysts Set New Price Targets

A number of analysts have weighed in on GLW shares. Wolfe Research set a $130.00 target price on shares of Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Bank of America increased their target price on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Morgan Stanley set a $180.00 target price on shares of Corning in a research report on Friday. Oppenheimer increased their target price on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, HSBC reissued a “buy” rating and set a $135.00 target price on shares of Corning in a research report on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $172.15.

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.