William John Sempolinski Takes Position in Corning Incorporated $GLW

William John Sempolinski purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 4,510 shares of the electronics maker’s stock, valued at approximately $1,152,000.

Other hedge funds have also bought and sold shares of the company. Security National Bank lifted its holdings in Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after acquiring an additional 56,056 shares during the last quarter. Herbst Group LLC bought a new position in shares of Corning during the second quarter valued at approximately $4,474,000. Principal Financial Group Inc. raised its position in shares of Corning by 1.2% during the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after purchasing an additional 10,591 shares during the period. Wealthfront Advisers LLC raised its position in shares of Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares during the period. Finally, Atlas Wealth LLC boosted its position in Corning by 137.8% during the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock valued at $1,642,000 after purchasing an additional 6,998 shares during the period. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wendell Weeks sold 100,000 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of brokerages recently commented on GLW. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Bank of America upped their price target on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Barclays dropped their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, Citigroup cut their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Up 5.6%

Shares of Corning stock opened at $154.22 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a 1-year low of $70.06 and a 1-year high of $271.78. The business’s fifty day moving average price is $164.74 and its two-hundred day moving average price is $165.17. The company has a market capitalization of $132.84 billion, a P/E ratio of 70.42, a PEG ratio of 1.87 and a beta of 1.16.

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

Corning Announces Dividend

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

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.