Hartford Funds Management Co LLC Buys New Holdings in Corning Incorporated $GLW

Hartford Funds Management Co LLC purchased a new position in Corning Incorporated (NYSE:GLW) in the first quarter, Holdings Channel reports. The fund purchased 8,849 shares of the electronics maker’s stock, valued at approximately $1,204,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Calamos Wealth Management LLC purchased a new stake in shares of Corning in the 1st quarter valued at approximately $354,000. Calamos Advisors LLC purchased a new stake in shares of Corning during the 1st quarter worth $354,000. Retirement Planning Group LLC grew its stake in shares of Corning by 4.1% during the first quarter. Retirement Planning Group LLC now owns 3,469 shares of the electronics maker’s stock worth $472,000 after purchasing an additional 138 shares in the last quarter. Sterling Group Wealth Management LLC acquired a new position in shares of Corning during the first quarter worth $203,000. Finally, Bleakley Financial Group LLC increased its holdings in Corning by 70.8% in the first quarter. Bleakley Financial Group LLC now owns 39,109 shares of the electronics maker’s stock valued at $5,318,000 after buying an additional 16,218 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s 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 transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last 90 days. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have weighed in on the company. Morgan Stanley set a $180.00 price target on Corning in a research note on Friday, May 8th. UBS Group set a $243.00 price objective on Corning in a report on Monday, July 6th. Mizuho raised their target price on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Susquehanna boosted their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Finally, Citigroup upped their price target on Corning from $225.00 to $240.00 and gave the company a “buy” rating in a report on Monday. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $194.69.

Corning Stock Performance

NYSE GLW opened at $183.14 on Tuesday. The company has a fifty day moving average of $193.56 and a two-hundred day moving average of $151.06. The company has a market capitalization of $157.62 billion, a PE ratio of 87.63, a P/E/G ratio of 2.50 and a beta of 1.09. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $271.78. 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 (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping 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 for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the firm earned $0.54 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s payout ratio is 53.59%.

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.