Orion Porfolio Solutions LLC Increases Stake in Corning Incorporated $GLW

Orion Porfolio Solutions LLC boosted its holdings in shares of Corning Incorporated (NYSE:GLW) by 28.7% during the second quarter, Holdings Channel.com reports. The institutional investor owned 111,809 shares of the electronics maker’s stock after buying an additional 24,904 shares during the period. Orion Porfolio Solutions LLC’s holdings in Corning were worth $5,880,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. REAP Financial Group LLC raised its stake in shares of Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 339 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in Corning during the 2nd quarter worth $36,000. Elevation Point Wealth Partners LLC purchased a new stake in Corning during the 2nd quarter worth about $38,000. WFA of San Diego LLC acquired a new stake in Corning in the 2nd quarter valued at about $38,000. Finally, Resources Management Corp CT ADV boosted its stake in shares of Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after buying an additional 300 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Transactions at Corning

In other Corning news, SVP Stefan Becker sold 12,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the completion of the sale, the senior vice president owned 5,049 shares in the company, valued at approximately $460,872.72. The trade was a 70.56% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Lewis A. Steverson sold 23,142 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the transaction, the executive vice president owned 17,575 shares in the company, valued at approximately $1,565,053.75. This trade represents a 56.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 156,135 shares of company stock valued at $14,088,769 in the last 90 days. Company insiders own 0.32% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research note on Monday. Barclays boosted their price target on shares of Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 29th. UBS Group restated a “buy” rating and issued a $109.00 price objective (up from $100.00) on shares of Corning in a report on Friday, November 21st. Mizuho set a $97.00 target price on shares of Corning in a research note on Wednesday, October 29th. Finally, JPMorgan Chase & Co. increased their target price on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus price target of $91.64.

Corning Stock Down 1.9%

Shares of NYSE:GLW opened at $86.43 on Wednesday. The firm has a 50 day simple moving average of $85.88 and a 200-day simple moving average of $71.03. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $96.64. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $74.10 billion, a PE ratio of 54.70, a P/E/G ratio of 1.93 and a beta of 1.11.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period last year, the business earned $0.54 EPS. Corning’s revenue for the quarter was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, equities analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 12th. Stockholders of record on Friday, November 14th were issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, November 14th. Corning’s payout ratio is presently 70.89%.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.