Patron Partners LLC Takes Position in Corning Incorporated $GLW

Patron Partners LLC bought a new position in Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 18,251 shares of the electronics maker’s stock, valued at approximately $4,662,000. Corning accounts for about 1.8% of Patron Partners LLC’s holdings, making the stock its 12th largest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. Security National Bank grew its stake in shares of Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after buying an additional 56,056 shares in the last quarter. Herbst Group LLC bought a new position in Corning during the second quarter valued at approximately $4,474,000. Principal Financial Group Inc. lifted its stake in Corning by 1.2% in the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after acquiring an additional 10,591 shares during the last quarter. Wealthfront Advisers LLC lifted its stake in Corning by 36.2% in the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after acquiring an additional 24,589 shares during the last quarter. Finally, Atlas Wealth LLC increased its stake in shares of Corning by 137.8% during the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after purchasing an additional 6,998 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred on 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 transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the stock. Mizuho cut their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. Morgan Stanley cut their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Truist Financial raised Corning from a “hold” rating to a “buy” rating and reduced their price target for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Finally, Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Corning Trading Down 1.0%

NYSE:GLW opened at $149.91 on Friday. The company’s 50 day moving average is $174.83 and its 200-day moving average is $163.35. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $65.09 and a 12 month high of $271.78. The firm has a market cap of $129.13 billion, a price-to-earnings ratio of 68.45, a P/E/G ratio of 1.94 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 (EPS) for the quarter, beating 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 net margin of 11.20% and a return on equity of 20.09%. Corning’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts anticipate that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is 51.14%.

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.