Bowen Hanes & Co. Inc. Lowers Stock Position in Corning Incorporated $GLW

Bowen Hanes & Co. Inc. reduced its stake in shares of Corning Incorporated (NYSE:GLW) by 3.8% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,377,592 shares of the electronics maker’s stock after selling 53,757 shares during the period. Corning comprises 4.6% of Bowen Hanes & Co. Inc.’s investment portfolio, making the stock its biggest position. Bowen Hanes & Co. Inc.’s holdings in Corning were worth $187,311,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also bought and sold shares of the company. Gibbs Wealth Management grew its stake in Corning by 49.7% in the 1st quarter. Gibbs Wealth Management now owns 12,474 shares of the electronics maker’s stock valued at $1,696,000 after buying an additional 4,141 shares in the last quarter. Signature Equity Partners LLC lifted its position in shares of Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after acquiring an additional 62 shares in the last quarter. Wiregrass Investment Management LLC boosted its stake in Corning by 12.5% in the 1st quarter. Wiregrass Investment Management LLC now owns 6,130 shares of the electronics maker’s stock worth $834,000 after purchasing an additional 683 shares during the period. First Citizens Bank & Trust Co. grew its holdings in Corning by 31.4% during the 1st quarter. First Citizens Bank & Trust Co. now owns 10,918 shares of the electronics maker’s stock valued at $1,485,000 after buying an additional 2,607 shares in the last quarter. Finally, Alesco Advisors LLC An ESL Co bought a new stake in shares of Corning during the first quarter valued at about $632,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLW. Citigroup raised their price objective on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research report on Monday, July 13th. UBS Group set a $243.00 target price on shares of Corning in a research report on Monday, July 6th. Oppenheimer upped their price objective on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday, July 7th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Barclays boosted their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Trading Up 1.2%

Shares of GLW stock opened at $155.91 on Friday. The stock has a market capitalization of $134.18 billion, a PE ratio of 74.60, a P/E/G ratio of 2.03 and a beta of 1.09. Corning Incorporated has a 1-year low of $54.89 and a 1-year high of $271.78. The business has a 50-day moving average of $188.92 and a 200 day moving average of $155.20. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the firm earned $0.54 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is presently 53.59%.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 over the last ninety days. Insiders own 0.25% of the company’s stock.

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.