Empowered Funds LLC Reduces Stake in Corning Incorporated $GLW

Empowered Funds LLC trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 18.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 81,476 shares of the electronics maker’s stock after selling 18,769 shares during the quarter. Empowered Funds LLC’s holdings in Corning were worth $20,811,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. United Capital Financial Advisors LLC increased its position in shares of Corning by 19.6% during the 2nd quarter. United Capital Financial Advisors LLC now owns 26,892 shares of the electronics maker’s stock valued at $6,869,000 after purchasing an additional 4,409 shares during the last quarter. Wealth Management Strategies Inc. bought a new stake in Corning in the 2nd quarter worth approximately $213,000. Bank OZK boosted its stake in Corning by 20.3% in the second quarter. Bank OZK now owns 2,055 shares of the electronics maker’s stock worth $525,000 after buying an additional 347 shares in the last quarter. Hamilton Capital LLC bought a new position in Corning during the second quarter valued at approximately $220,000. Finally, Caitlin John LLC purchased a new position in shares of Corning during the second quarter worth approximately $64,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

GLW has been the topic of a number of analyst reports. Barclays decreased their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Mizuho decreased their price target on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Citigroup dropped their price target on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Morgan Stanley lowered their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Finally, UBS Group reiterated a “buy” rating and set a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Down 0.0%

Shares of NYSE GLW opened at $152.72 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $66.14 and a 12 month high of $271.78. The firm has a market capitalization of $131.55 billion, a PE ratio of 69.73, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The firm has a fifty day simple moving average of $172.11 and a two-hundred day simple moving average of $164.71.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. The company’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. Equities analysts expect that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s payout ratio is currently 51.14%.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s 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 transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by insiders.

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.