Atlas Wealth LLC Buys 6,998 Shares of Corning Incorporated $GLW

Atlas Wealth LLC lifted its stake in shares of Corning Incorporated (NYSE:GLW) by 137.8% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 12,076 shares of the electronics maker’s stock after purchasing an additional 6,998 shares during the quarter. Atlas Wealth LLC’s holdings in Corning were worth $1,642,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank bought a new position in Corning in the fourth quarter valued at approximately $921,435,000. Capital Research Global Investors lifted its stake in Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares during the last quarter. Polar Capital Holdings Plc boosted its position in Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after buying an additional 2,348,125 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Corning by 102.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after buying an additional 2,304,676 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. bought a new position in shares of Corning in the 4th quarter valued at $185,312,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insiders Place Their Bets

In other 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 directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at approximately $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 sold a total of 160,655 shares of company stock worth $30,692,560 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

Corning Trading Down 2.5%

NYSE:GLW opened at $154.47 on Friday. 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 one year low of $53.29 and a one year high of $271.78. The company has a market cap of $132.94 billion, a PE ratio of 73.91, a PEG ratio of 2.08 and a beta of 1.09. The firm has a 50-day moving average of $192.81 and a 200-day moving average of $152.85.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the business earned $0.54 EPS. The company’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. As a group, equities research analysts expect that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s payout ratio is 53.59%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on GLW shares. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a research note on Saturday. Truist Financial lifted 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, June 22nd. JPMorgan Chase & Co. raised their price target on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Bank of America lifted their price target on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average target price of $194.69.

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.