Janney Montgomery Scott LLC Buys 149,227 Shares of Corning Incorporated $GLW

Janney Montgomery Scott LLC raised its stake in Corning Incorporated (NYSE:GLW) by 32.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 607,765 shares of the electronics maker’s stock after buying an additional 149,227 shares during the period. Janney Montgomery Scott LLC owned 0.07% of Corning worth $82,638,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLW. Caldwell Trust Co lifted its stake in shares of Corning by 0.5% in the 1st quarter. Caldwell Trust Co now owns 15,893 shares of the electronics maker’s stock valued at $2,161,000 after acquiring an additional 74 shares during the last quarter. Adams Diversified Equity Fund Inc. bought a new stake in Corning during the 1st quarter worth $4,936,000. Cornerstone Wealth Group LLC acquired a new position in Corning in the 1st quarter worth about $228,000. Onyx Bridge Wealth Group LLC acquired a new position in Corning in the 1st quarter worth about $388,000. Finally, Pictet Asset Management Holding SA raised its position in Corning by 2.4% in the first quarter. Pictet Asset Management Holding SA now owns 377,572 shares of the electronics maker’s stock valued at $51,281,000 after purchasing an additional 9,023 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated 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 transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by corporate insiders.

Corning Stock Performance

NYSE:GLW opened at $223.00 on Friday. 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 50 day simple moving average of $184.70 and a two-hundred day simple moving average of $141.72. The company has a market capitalization of $191.92 billion, a PE ratio of 106.70, a P/E/G ratio of 3.16 and a beta of 1.15.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the company earned $0.54 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. Corning’s dividend payout ratio is 53.59%.

Wall Street Analysts Forecast Growth

GLW has been the topic of several research reports. Citigroup boosted their price target on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Susquehanna upped their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. UBS Group lifted their price target on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Finally, Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target 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.