Proficio Capital Partners LLC Buys Shares of 3,974 Corning Incorporated $GLW

Proficio Capital Partners LLC bought a new position in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 3,974 shares of the electronics maker’s stock, valued at approximately $1,015,000.

Other large investors have also made changes to their positions in the company. Berbice Capital Management LLC bought a new stake in Corning during the fourth quarter valued at about $26,000. Basepoint Wealth LLC bought a new position in Corning during the fourth quarter valued at approximately $26,000. Atwood & Palmer Inc. purchased a new position in shares of Corning in the second quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning during the fourth quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in shares of Corning in the 4th quarter worth about $31,000. 69.80% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by insiders.

Corning Stock Up 3.8%

Shares of NYSE GLW opened at $152.76 on Thursday. Corning Incorporated has a 12-month low of $66.14 and a 12-month high of $271.78. The stock’s fifty day simple moving average is $172.96 and its two-hundred day simple moving average is $164.50. The stock has a market capitalization of $131.59 billion, a PE ratio of 69.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. 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 (NYSE:GLW) last issued its quarterly earnings data 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 analysts’ expectations of $4.63 billion. During the same period in the prior year, the business posted $0.60 EPS. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Barclays cut their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Citigroup lowered their price objective 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. UBS Group reaffirmed a “buy” rating and set a $196.00 target price on shares of Corning in a research report on Wednesday, July 29th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a report on Monday. Finally, JPMorgan Chase & Co. dropped their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Ten research 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 currently has an average rating of “Moderate Buy” and a consensus price target of $174.08.

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.