Cacti Asset Management LLC Has $173.74 Million Holdings in Corning Incorporated $GLW

Cacti Asset Management LLC lowered its stake in shares of Corning Incorporated (NYSE:GLW) by 1.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 680,192 shares of the electronics maker’s stock after selling 6,987 shares during the period. Corning makes up 8.8% of Cacti Asset Management LLC’s investment portfolio, making the stock its 3rd biggest holding. Cacti Asset Management LLC’s holdings in Corning were worth $173,741,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently made changes to their positions in the stock. Berbice Capital Management LLC acquired a new position in Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning during the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the fourth quarter worth approximately $27,000. Litman Gregory Wealth Management LLC bought a new position in shares of Corning in the 4th quarter worth $31,000. Finally, Evolution Wealth Management Inc. lifted its holdings in shares of Corning by 58.8% in the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 141 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Trading Up 6.1%

Shares of GLW stock opened at $146.67 on Tuesday. 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 has a market capitalization of $126.34 billion, a price-to-earnings ratio of 66.97, a PEG ratio of 1.78 and a beta of 1.14. Corning Incorporated has a 52-week low of $62.65 and a 52-week high of $271.78. The company has a 50-day simple moving average of $181.97 and a two-hundred day simple moving average of $157.64.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion for 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%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts anticipate that Corning Incorporated will post 3.25 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is 51.14%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Citigroup dropped their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. UBS Group reaffirmed a “buy” rating and issued a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Bank of America lifted their price target on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, Mizuho decreased their price objective on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company has an average 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 the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 160,655 shares of company stock worth $30,692,560. Company insiders own 0.25% of the company’s stock.

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.