Envestnet Portfolio Solutions Inc. Boosts Stake in Corning Incorporated $GLW

Envestnet Portfolio Solutions Inc. increased its stake in shares of Corning Incorporated (NYSE:GLW) by 10.5% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 33,031 shares of the electronics maker’s stock after purchasing an additional 3,129 shares during the period. Envestnet Portfolio Solutions Inc.’s holdings in Corning were worth $2,892,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Merit Financial Group LLC raised its stake in shares of Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after acquiring an additional 6,493 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ raised its stake in shares of Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after acquiring an additional 12,297 shares in the last quarter. Security National Bank raised its stake in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after acquiring an additional 56,056 shares in the last quarter. Three Seasons Wealth LLC acquired a new stake in shares of Corning in the fourth quarter valued at $1,750,000. Finally, Natixis Advisors LLC raised its stake in shares of Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after acquiring an additional 116,583 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Activity

In related news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction 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 sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 170,774 shares of company stock valued at $28,148,435 over the last quarter. Company insiders own 0.25% of the company’s stock.

Corning Price Performance

Shares of GLW opened at $192.54 on Friday. Corning Incorporated has a twelve month low of $47.67 and a twelve month high of $211.79. The firm’s fifty day simple moving average is $160.32 and its 200-day simple moving average is $122.51. The firm has a market capitalization of $165.71 billion, a price-to-earnings ratio of 92.12, a PEG ratio of 2.59 and a beta of 1.14. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the business earned $0.54 EPS. The company’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Analyst Upgrades and Downgrades

GLW has been the topic of several analyst reports. Bank of America increased their price objective on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Zacks Research upgraded Corning from a “hold” rating to a “strong-buy” rating in a research note on Monday, April 27th. Barclays increased their price objective on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Wolfe Research set a $130.00 price objective on Corning and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Finally, Citigroup increased their price objective on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $177.92.

About Corning

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.