10,567 Shares in Corning Incorporated $GLW Purchased by CFO Capital Management LLC

CFO Capital Management LLC bought a new stake in Corning Incorporated (NYSE:GLW) during the fourth quarter, HoldingsChannel reports. The firm bought 10,567 shares of the electronics maker’s stock, valued at approximately $925,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Berbice Capital Management LLC acquired a new position in shares of Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning during the 4th quarter worth $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning in the third quarter valued at approximately $25,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning during the fourth quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in Corning during the 4th quarter worth $31,000. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Up 0.2%

NYSE:GLW opened at $195.28 on Friday. Corning Incorporated has a fifty-two week low of $49.97 and a fifty-two week high of $211.79. The firm has a 50-day simple moving average of $180.63 and a two-hundred day simple moving average of $137.25. 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 firm has a market cap of $168.06 billion, a P/E ratio of 93.44, a P/E/G ratio of 2.79 and a beta of 1.15.

Corning (NYSE:GLW) last released its quarterly earnings data 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 firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The firm’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. Analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently announced 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 currently 53.59%.

Wall Street Analyst Weigh In

A number of brokerages have commented on GLW. Barclays upped their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Oppenheimer increased their price target on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Finally, Morgan Stanley set a $180.00 price objective on shares of Corning in a report on Friday, May 8th. 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 has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, 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. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 over the last ninety days. 0.25% of the stock is owned by insiders.

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.