Corning Incorporated $GLW Stake Increased by SMART Wealth LLC

SMART Wealth LLC raised its stake in shares of Corning Incorporated (NYSE:GLW) by 89.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 14,090 shares of the electronics maker’s stock after acquiring an additional 6,638 shares during the quarter. SMART Wealth LLC’s holdings in Corning were worth $1,916,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning in the 3rd quarter valued at about $25,000. Berbice Capital Management LLC acquired a new position in Corning in the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in Corning in the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning in the fourth quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in Corning in the fourth quarter valued at about $31,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Performance

GLW stock opened at $255.29 on Wednesday. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $271.78. The stock has a market capitalization of $219.71 billion, a price-to-earnings ratio of 122.15, a PEG ratio of 3.66 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 stock’s fifty day moving average is $188.32 and its two-hundred day moving average is $144.39.

Corning (NYSE:GLW) last released its quarterly earnings results 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 business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm earned $0.54 earnings per share. 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. On average, research analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.4%. Corning’s dividend payout ratio is 53.59%.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s 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 sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock worth $30,692,560 in the last quarter. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of research analysts have commented on GLW shares. Bank of America increased their target price on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. JPMorgan Chase & Co. raised their price objective on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Barclays lifted their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, Susquehanna boosted their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average 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.