Envestnet Portfolio Solutions Inc. Grows Stake in Corning Incorporated $GLW

Envestnet Portfolio Solutions Inc. lifted its stake in shares of Corning Incorporated (NYSE:GLW) by 10.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 33,031 shares of the electronics maker’s stock after purchasing an additional 3,129 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Corning were worth $2,892,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning during the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC purchased a new stake in Corning during the 3rd quarter valued at about $27,000. Cornerstone Planning Group LLC grew its stake in Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 124 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in Corning during the 3rd quarter valued at about $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. purchased a new stake in Corning during the 4th quarter valued at about $35,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Corning stock opened at $192.54 on Friday. The firm has a 50 day simple moving average of $160.32 and a 200-day simple moving average of $122.51. Corning Incorporated has a 1-year low of $47.67 and a 1-year high of $211.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market cap of $165.71 billion, a price-to-earnings ratio of 92.12, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14.

Corning (NYSE:GLW) last posted 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. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the company posted $0.54 EPS. The business’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. On average, analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio is 53.59%.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLW. HSBC reaffirmed a “buy” rating and set a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. Barclays upped their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Zacks Research raised shares of Corning from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Truist Financial upped their price objective on shares of Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.92.

Insider Activity

In related news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred 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 completion of the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the transaction, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at $116,618,391.45. The trade was a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 170,774 shares of company stock worth $28,148,435. Corporate insiders own 0.25% of the company’s stock.

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.