Herbst Group LLC Makes New $4.47 Million Investment in Corning Incorporated $GLW

Herbst Group LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 17,516 shares of the electronics maker’s stock, valued at approximately $4,474,000. Corning comprises approximately 2.4% of Herbst Group LLC’s portfolio, making the stock its 13th biggest holding.

Other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC increased its position in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in shares of Corning in the first quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Corning during the 2nd quarter valued at approximately $401,000. Finally, Schnieders Capital Management LLC. bought a new position in shares of Corning during the 2nd quarter valued at approximately $266,000. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

GLW stock opened at $165.65 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company’s fifty day moving average price is $179.73 and its 200-day moving average price is $159.52. Corning Incorporated has a one year low of $63.37 and a one year high of $271.78. The company has a market capitalization of $142.69 billion, a PE ratio of 75.64, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share 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 analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts anticipate that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Analysts Set New Price Targets

GLW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. decreased their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Wall Street Zen raised shares of Corning from a “buy” rating to a “strong-buy” rating in a research note on Saturday. Susquehanna raised their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Finally, Oppenheimer dropped their target price on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Insider Transactions at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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.