Welch Group LLC Takes $687,000 Position in Corning Incorporated $GLW

Welch Group LLC bought a new stake in Corning Incorporated (NYSE:GLW) during the 1st quarter, HoldingsChannel.com reports. The fund bought 5,051 shares of the electronics maker’s stock, valued at approximately $687,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLW. Berbice Capital Management LLC purchased a new stake in Corning during the 4th quarter valued at about $26,000. Basepoint Wealth LLC purchased a new position in shares of Corning in the fourth quarter worth about $26,000. MBM Wealth Consultants LLC acquired a new stake in shares of Corning during the first quarter worth about $42,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning during the third quarter worth about $25,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Corning in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Down 2.2%

Shares of Corning stock opened at $223.00 on Friday. The firm has a 50-day simple moving average of $184.70 and a two-hundred day simple moving average of $141.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $230.50. The company has a market cap of $191.92 billion, a P/E ratio of 106.70, a price-to-earnings-growth ratio of 3.26 and a beta of 1.15.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the firm earned $0.54 EPS. The company’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts predict that Corning Incorporated will post 3.19 earnings per share 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 issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Wall Street Analysts Forecast Growth

Several equities analysts recently weighed in on the stock. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Morgan Stanley set a $180.00 price objective on shares of Corning in a research note on Friday, May 8th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. UBS Group increased their price objective on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, Oppenheimer raised their target price on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $182.62.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were 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 in the company, valued at $18,138,016. This represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Corning 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.