Moran Wealth Management LLC Takes Position in Corning Incorporated $GLW

Moran Wealth Management LLC bought a new position in shares of Corning Incorporated (NYSE:GLW) during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 3,001 shares of the electronics maker’s stock, valued at approximately $408,000.

A number of other hedge funds and other institutional investors also recently bought and sold shares of GLW. Berbice Capital Management LLC purchased a new position in shares of Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new stake in Corning during the 4th quarter worth approximately $26,000. MBM Wealth Consultants LLC acquired a new stake in Corning during the 1st quarter worth approximately $42,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the 3rd quarter worth approximately $25,000. Finally, Kemnay Advisory Services Inc. purchased a new position in Corning in the 4th quarter valued at approximately $27,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This represents a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their price objective on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Bank of America boosted their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday. Susquehanna increased their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Truist Financial lifted their price objective on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $193.54.

Corning Stock Down 7.9%

Shares of GLW stock traded down $15.31 on Tuesday, reaching $179.49. 3,830,856 shares of the stock were exchanged, compared to its average volume of 12,938,089. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The business’s 50 day moving average price is $191.10 and its 200 day moving average price is $147.55. The company has a market capitalization of $154.47 billion, a price-to-earnings ratio of 86.08, a PEG ratio of 2.82 and a beta of 1.09. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $271.78.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the firm earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

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.