SteelPeak Wealth LLC Has $978,000 Stock Holdings in Corning Incorporated $GLW

SteelPeak Wealth LLC raised its holdings in shares of Corning Incorporated (NYSE:GLW) by 99.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 11,927 shares of the electronics maker’s stock after acquiring an additional 5,946 shares during the period. SteelPeak Wealth LLC’s holdings in Corning were worth $978,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Norges Bank acquired a new stake in shares of Corning during the second quarter worth $534,936,000. Voya Investment Management LLC boosted its holdings in Corning by 748.0% during the third quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock worth $260,014,000 after buying an additional 2,795,948 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in shares of Corning during the 2nd quarter worth about $92,560,000. Raymond James Financial Inc. grew its position in shares of Corning by 93.0% during the 2nd quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock worth $179,206,000 after buying an additional 1,641,558 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after acquiring an additional 1,582,895 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Up 3.5%

Shares of GLW stock opened at $90.62 on Friday. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $96.64. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The firm has a fifty day moving average of $86.60 and a 200-day moving average of $74.33. The company has a market capitalization of $77.69 billion, a price-to-earnings ratio of 57.35, a P/E/G ratio of 1.65 and a beta of 1.13.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 14th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.2%. Corning’s dividend payout ratio (DPR) is presently 70.89%.

Insider Transactions at Corning

In related news, insider Eric S. Musser sold 100,000 shares of Corning stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the sale, the insider owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. This trade represents a 69.00% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $91.25, for a total value of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 156,135 shares of company stock worth $14,088,769 in the last 90 days. 0.40% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

GLW has been the topic of several recent analyst reports. Susquehanna lifted their price objective on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a research note on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Monday, December 29th. Barclays lifted their price target on shares of Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. Morgan Stanley boosted their price target on shares of Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a report on Wednesday, December 17th. Finally, Mizuho set a $97.00 price objective on Corning in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $93.09.

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.