Grandfield & Dodd LLC Invests $12.04 Million in Corning Incorporated $GLW

Grandfield & Dodd LLC purchased a new stake in Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 47,126 shares of the electronics maker’s stock, valued at approximately $12,037,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Auxano Advisors LLC bought a new position in Corning in the 2nd quarter valued at approximately $225,000. IMG Wealth Management Inc. bought a new stake in shares of Corning during the second quarter worth $81,000. Focused Alpha LLC bought a new stake in shares of Corning during the second quarter worth $1,964,000. B & T Capital Management DBA Alpha Capital Management acquired a new position in shares of Corning during the second quarter worth $337,000. Finally, Occidental Asset Management LLC acquired a new position in shares of Corning during the second quarter worth $3,573,000. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

GLW has been the topic of several recent research reports. Oppenheimer cut their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Bank of America upped their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. cut their price target on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Finally, Citigroup reduced their price target on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm’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 completion of the transaction, the chief executive officer directly 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. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% 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 owned by company insiders.

Corning Price Performance

Shares of NYSE:GLW opened at $173.29 on Tuesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 52 week low of $63.37 and a 52 week high of $271.78. The firm has a market cap of $149.27 billion, a PE ratio of 79.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. The firm’s fifty day moving average is $176.54 and its 200-day moving average is $162.37.

Corning (NYSE:GLW) last posted its quarterly earnings data 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. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period 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. Sell-side analysts predict that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio is presently 51.14%.

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.