7,690 Shares in Corning Incorporated $GLW Bought by Focused Alpha LLC

Focused Alpha LLC acquired a new stake in Corning Incorporated (NYSE:GLW) in the second quarter, HoldingsChannel.com reports. The fund acquired 7,690 shares of the electronics maker’s stock, valued at approximately $1,964,000.

Other institutional investors have also modified their holdings of the company. Alliance Wealth Advisors LLC increased its holdings in Corning by 1.4% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after acquiring an additional 56 shares in the last quarter. Ares Financial Consulting LLC lifted its stake in shares of Corning by 15.6% during the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 60 shares during the period. Signature Equity Partners LLC boosted its stake in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after buying an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC boosted its position in shares of Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after acquiring an additional 64 shares during the last quarter. Finally, Balefire LLC boosted its holdings in shares of Corning by 0.7% in the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Up 4.4%

Corning stock opened at $173.29 on Tuesday. Corning Incorporated has a 52 week low of $63.37 and a 52 week high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock has a market cap of $149.27 billion, a price-to-earnings ratio of 79.13, a PEG ratio of 2.12 and a beta of 1.14. The company’s 50-day moving average price is $176.54 and its two-hundred day moving average price is $162.37.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st 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 Monday, August 31st. Corning’s payout ratio is presently 51.14%.

Analyst Ratings Changes

A number of analysts have recently issued reports on GLW shares. Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and decreased their target price for the stock from $205.00 to $175.00 in a report on Sunday, August 2nd. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Mizuho decreased their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Wall Street Zen lowered Corning from a “strong-buy” rating to a “buy” rating in a report on Sunday. Finally, Barclays lowered their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is currently owned by corporate insiders.

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.