Innova Wealth Partners Invests $384,000 in Corning Incorporated $GLW

Innova Wealth Partners purchased a new position in shares of Corning Incorporated (NYSE:GLW) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 4,385 shares of the electronics maker’s stock, valued at approximately $384,000.

Other large investors also recently bought and sold shares of the company. Capital Research Global Investors purchased a new stake in Corning in the third quarter worth $907,164,000. Norges Bank purchased a new stake in shares of Corning during the second quarter valued at $534,936,000. WCM Investment Management LLC purchased a new stake in shares of Corning during the third quarter valued at $676,931,000. Wellington Management Group LLP grew its holdings in shares of Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the last quarter. Finally, Voya Investment Management LLC increased its stake in Corning by 748.0% in the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock worth $260,014,000 after buying an additional 2,795,948 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Down 6.3%

NYSE:GLW opened at $124.72 on Friday. The firm has a 50-day simple moving average of $122.00 and a 200-day simple moving average of $97.26. Corning Incorporated has a one year low of $37.31 and a one year high of $162.10. The firm has a market cap of $107.00 billion, a P/E ratio of 67.78, a P/E/G ratio of 2.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59.

Corning (NYSE:GLW) last released its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The company’s quarterly revenue was up 13.9% on a year-over-year basis. During the same period last year, the firm earned $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Equities analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio (DPR) is 60.87%.

Wall Street Analyst Weigh In

GLW has been the subject of a number of research analyst reports. Oppenheimer set a $120.00 price objective on shares of Corning in a report on Thursday, January 29th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Susquehanna lifted their price target on shares of Corning from $100.00 to $125.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. boosted their price target on Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Finally, Mizuho set a $145.00 price objective on Corning in a research note on Monday, February 23rd. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $131.75.

Insiders Place Their Bets

In other news, CEO Wendell P. Weeks sold 137,514 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the transaction, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the sale, the executive vice president owned 3,461 shares of the company’s stock, valued at $450,691.42. This trade represents a 81.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 233,201 shares of company stock worth $32,614,558. Insiders own 0.40% of the company’s stock.

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.