5,311 Shares in Corning Incorporated $GLW Bought by Clear Trail Advisors LLC

Clear Trail Advisors LLC purchased a new stake in shares of Corning Incorporated (NYSE:GLW) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 5,311 shares of the electronics maker’s stock, valued at approximately $722,000.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after purchasing an additional 580,678 shares during the period. State Street Corp lifted its holdings in Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares during the period. Geode Capital Management LLC grew its position in shares of Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after buying an additional 517,067 shares during the last quarter. Capital Research Global Investors grew its position in shares of Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Finally, Wellington Management Group LLP increased its stake in shares of Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after buying an additional 3,848,540 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Activity

In related news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on GLW. Bank of America upped their target price on Corning from $155.00 to $186.00 and gave the company 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. Barclays upped 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. Truist Financial raised their target price on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday. Finally, Mizuho lifted their target price on shares of Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $182.62.

Corning Stock Up 7.5%

Shares of NYSE:GLW opened at $209.61 on Tuesday. The firm 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 stock has a 50 day moving average price of $181.42 and a 200-day moving average price of $138.52. Corning Incorporated has a 52-week low of $50.26 and a 52-week high of $212.39.

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

Corning Dividend Announcement

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

Corning Company 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.