Net Worth Advisory Group Takes $622,000 Position in Corning Incorporated $GLW

Net Worth Advisory Group purchased a new position in shares of Corning Incorporated (NYSE:GLW) in the 4th quarter, HoldingsChannel.com reports. The institutional investor purchased 7,101 shares of the electronics maker’s stock, valued at approximately $622,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Capital Research Global Investors acquired a new stake in Corning during the 3rd quarter worth $907,164,000. Norges Bank acquired a new stake in shares of Corning during the second quarter worth about $534,936,000. WCM Investment Management LLC bought a new position in shares of Corning during the 3rd quarter valued at about $676,931,000. Wellington Management Group LLP lifted its holdings in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares in the last quarter. Finally, Voya Investment Management LLC grew its position in shares of Corning by 748.0% in the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock valued at $260,014,000 after purchasing an additional 2,795,948 shares during the period. 69.80% of the stock is owned by institutional investors.

Corning Stock Performance

Shares of NYSE GLW opened at $136.94 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. The stock has a 50 day moving average price of $126.73 and a 200 day moving average price of $99.82. The stock has a market capitalization of $117.64 billion, a PE ratio of 74.43, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $162.10.

Corning (NYSE:GLW) last posted its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same quarter in the previous year, the firm earned $0.57 EPS. The business’s quarterly revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio is 60.87%.

Wall Street Analysts Forecast Growth

GLW has been the subject of several research analyst reports. Oppenheimer set a $120.00 price target on shares of Corning in a report on Thursday, January 29th. HSBC reaffirmed a “buy” rating and set a $135.00 price target on shares of Corning in a research report on Friday, February 13th. Wolfe Research set a $130.00 price objective on shares of Corning and gave the company an “outperform” rating in a report on Tuesday, January 27th. Barclays set a $100.00 price objective on shares of Corning in a research report on Thursday, January 29th. Finally, Fox Advisors cut shares of Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $132.67.

Insider Activity

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total value of $2,000,960.52. Following the completion of the sale, the executive vice president owned 3,461 shares in the company, valued at $450,691.42. This trade represents a 81.62% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John Z. Zhang sold 1,531 shares of Corning stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $133.75, for a total transaction of $204,771.25. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 233,201 shares of company stock valued at $32,614,558. 0.40% of the stock is owned by corporate 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.