MOR Wealth Management LLC Makes New Investment in Corning Incorporated $GLW

MOR Wealth Management LLC purchased a new position in Corning Incorporated (NYSE:GLW) during the fourth quarter, HoldingsChannel reports. The institutional investor purchased 7,111 shares of the electronics maker’s stock, valued at approximately $623,000.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. grew its holdings in Corning by 0.8% in the third quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock valued at $8,096,577,000 after purchasing an additional 750,530 shares during the period. State Street Corp increased its position in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after purchasing an additional 439,883 shares during the last quarter. Wellington Management Group LLP raised its stake in Corning by 30.3% during 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 period. Ameriprise Financial Inc. boosted its holdings in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after purchasing an additional 1,036,988 shares during the last quarter. Finally, Capital Research Global Investors purchased a new stake in shares of Corning during the 3rd quarter valued at $907,164,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 137,514 shares of the business’s stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the transaction, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. The trade was a 15.48% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Eric S. Musser sold 15,000 shares of the firm’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the sale, the insider owned 4,926 shares of the company’s stock, valued at $641,611.50. This represents a 75.28% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 233,201 shares of company stock worth $32,614,558 over the last three months. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLW. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. UBS Group raised their price objective on Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Bank of America lifted their price objective on Corning from $144.00 to $155.00 and gave the company a “buy” rating in a research note on Monday, March 23rd. Oppenheimer set a $120.00 target price on shares of Corning in a research report on Thursday, January 29th. Finally, Fox Advisors cut shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average target price of $132.67.

Corning Price Performance

Shares of NYSE GLW opened at $136.94 on Monday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $162.10. The company has a market capitalization of $117.64 billion, a price-to-earnings ratio of 74.43, a PEG ratio of 2.16 and a beta of 1.05. The business has a 50-day moving average of $126.73 and a 200-day moving average of $99.99.

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

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio (DPR) is presently 60.87%.

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.