Proficio Capital Partners LLC Invests $1.01 Million in Corning Incorporated $GLW

Proficio Capital Partners LLC acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 3,974 shares of the electronics maker’s stock, valued at approximately $1,015,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Berbice Capital Management LLC purchased a new stake in Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in shares of Corning in the fourth quarter worth $26,000. Atwood & Palmer Inc. acquired a new stake in shares of Corning during the second quarter worth $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Corning during the fourth quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning during the fourth quarter valued at $31,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GLW has been the subject of a number of research reports. Susquehanna lifted 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. Bank of America upped their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Barclays decreased their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Oppenheimer reduced their price target on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Finally, Truist Financial raised Corning from a “hold” rating to a “buy” rating and decreased their price target for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Trading Up 3.8%

Shares of GLW opened at $152.76 on Thursday. Corning Incorporated has a 52-week low of $66.14 and a 52-week high of $271.78. The stock has a market cap of $131.59 billion, a PE ratio of 69.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. 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 firm’s fifty day moving average is $172.96 and its two-hundred day moving average is $164.50.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate 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 quarter in the prior year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal 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 paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend 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.