Buffalo Business & Estate Services Ltd. Makes New $756,000 Investment in Corning Incorporated $GLW

Buffalo Business & Estate Services Ltd. bought a new stake in shares of Corning Incorporated (NYSE:GLW) in the first quarter, HoldingsChannel reports. The institutional investor bought 5,558 shares of the electronics maker’s stock, valued at approximately $756,000.

Other hedge funds have also made changes to their positions in the company. KRS Capital Management LLC increased its stake in shares of Corning by 2.2% during the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock valued at $552,000 after buying an additional 88 shares during the period. Sheets Smith Wealth Management lifted its stake in Corning by 2.1% in the first quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock worth $605,000 after acquiring an additional 90 shares during the period. Beese Fulmer Investment Management Inc. grew its holdings in Corning by 2.5% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after acquiring an additional 92 shares in the last quarter. 3Chopt Investment Partners LLC grew its holdings in Corning by 1.0% during the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after acquiring an additional 97 shares in the last quarter. Finally, Patten & Patten Inc. TN increased its position in Corning by 0.6% during the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock valued at $1,558,000 after purchasing an additional 100 shares during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corning

In other news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 160,655 shares of company stock valued at $30,692,560. Corporate insiders own 0.25% of the company’s stock.

Corning Stock Up 7.5%

NYSE:GLW opened at $209.61 on Tuesday. Corning Incorporated has a fifty-two week low of $50.26 and a fifty-two week high of $212.39. The stock has a market capitalization of $180.40 billion, a P/E ratio of 100.29, a P/E/G ratio of 2.79 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company’s 50-day simple moving average is $181.42 and its 200-day simple moving average is $138.52.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the business posted $0.54 EPS. Corning’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. Corning’s dividend payout ratio is presently 53.59%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on GLW shares. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Truist Financial lifted their price objective on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday. Mizuho boosted their price objective on shares of Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Barclays upped their target price on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $182.62.

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.