39,393 Shares in Corning Incorporated $GLW Bought by Callan Family Office LLC

Callan Family Office LLC bought a new stake in shares of Corning Incorporated (NYSE:GLW) in the 2nd quarter, HoldingsChannel reports. The fund bought 39,393 shares of the electronics maker’s stock, valued at approximately $10,062,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Atwood & Palmer Inc. acquired a new position in shares of Corning in the 2nd quarter valued at about $26,000. First Community Trust NA acquired a new stake in Corning during the second quarter worth about $72,000. N.E.W. Advisory Services LLC acquired a new position in Corning in the second quarter valued at approximately $76,000. Berbice Capital Management LLC acquired a new position in Corning in the fourth quarter valued at approximately $26,000. Finally, Basepoint Wealth LLC bought a new position in shares of Corning during the fourth quarter valued at approximately $26,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Price Performance

Shares of NYSE GLW opened at $149.91 on Friday. Corning Incorporated has a fifty-two week low of $65.09 and a fifty-two week high of $271.78. The firm’s 50-day simple moving average is $174.83 and its 200 day simple 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. The stock has a market cap of $129.13 billion, a P/E ratio of 68.45, a P/E/G ratio of 1.94 and a beta of 1.14.

Corning (NYSE:GLW) last announced 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 firm had revenue of $4.74 billion during 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 quarter in the prior year, the firm posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts expect that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is currently 51.14%.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Susquehanna increased their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Mizuho reduced their price objective on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Bank of America upped their price objective on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Truist Financial raised Corning from a “hold” rating to a “buy” rating and dropped their target price for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Finally, UBS Group reiterated a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Insider Activity

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 0.25% of the stock is owned by company insiders.

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.