Cornerstone Advisors LLC Buys Shares of 93,096 Corning Incorporated $GLW

Cornerstone Advisors LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund purchased 93,096 shares of the electronics maker’s stock, valued at approximately $23,780,000.

A number of other institutional investors have also made changes to their positions in the stock. Alliance Wealth Advisors LLC grew its position in shares of Corning by 1.4% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock worth $1,033,000 after buying an additional 56 shares during the period. Ares Financial Consulting LLC increased its position in shares of Corning by 15.6% during the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after acquiring an additional 60 shares in the last quarter. Signature Equity Partners LLC raised its stake in shares of Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after purchasing an additional 62 shares during the period. Beirne Wealth Consulting Services LLC raised its position in Corning by 0.8% in the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after buying an additional 64 shares during the last quarter. Finally, Balefire LLC raised its holdings in shares of Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after purchasing an additional 65 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Performance

Shares of Corning stock opened at $173.29 on Tuesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a fifty-two week low of $63.37 and a fifty-two week high of $271.78. The firm has a market capitalization of $149.27 billion, a P/E ratio of 79.13, a P/E/G ratio of 2.12 and a beta of 1.14. The company’s 50 day moving average price is $176.54 and its two-hundred day moving average price is $162.37.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion for 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%.Corning’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 EPS. 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 fiscal year.

Corning Announces Dividend

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 $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s payout ratio is currently 51.14%.

Analyst Ratings Changes

GLW has been the topic of a number of recent research reports. Truist Financial raised Corning from a “hold” rating to a “buy” rating and lowered their target price for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. UBS Group reissued a “buy” rating and issued a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. Wall Street Zen cut Corning from a “strong-buy” rating to a “buy” rating in a report on Sunday. Morgan Stanley dropped their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Finally, Barclays dropped their price objective on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $174.08.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company’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 sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. 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.