Assetmark Inc. Grows Stock Position in Corning Incorporated $GLW

Assetmark Inc. boosted its holdings in Corning Incorporated (NYSE:GLW) by 782.4% during the first quarter, Holdings Channel.com reports. The fund owned 74,465 shares of the electronics maker’s stock after acquiring an additional 66,026 shares during the period. Assetmark Inc.’s holdings in Corning were worth $10,125,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Berbice Capital Management LLC purchased a new position in Corning during the fourth quarter worth $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning during the 4th quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new stake in Corning in the 4th quarter worth approximately $27,000. Litman Gregory Wealth Management LLC acquired a new stake in Corning in the 4th quarter worth about $31,000. Finally, Evolution Wealth Management Inc. grew its holdings in Corning by 58.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Corning stock opened at $152.97 on Tuesday. The firm’s 50 day simple moving average is $191.73 and its 200-day simple moving average is $153.75. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a fifty-two week low of $53.29 and a fifty-two week high of $271.78. The company has a market cap of $131.65 billion, a P/E ratio of 73.19, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09.

Corning (NYSE:GLW) last issued its 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. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm 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 predict that Corning Incorporated will post 3.18 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors 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 0.7%. Corning’s payout ratio is presently 53.59%.

Insider Transactions at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently commented on GLW. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a report on Saturday. Mizuho lifted their price objective on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Oppenheimer increased their price objective on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Truist Financial lifted their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. Finally, Susquehanna upped their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. 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.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $194.69.

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.