Greenspring Advisors LLC Acquires Shares of 6,257 Corning Incorporated $GLW

Greenspring Advisors LLC bought a new stake in Corning Incorporated (NYSE:GLW) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 6,257 shares of the electronics maker’s stock, valued at approximately $1,598,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in GLW. Atwood & Palmer Inc. acquired a new stake in Corning during the 2nd quarter worth approximately $26,000. First Community Trust NA acquired a new position in shares of Corning in the second quarter valued at approximately $72,000. N.E.W. Advisory Services LLC acquired a new position in shares of Corning in the second quarter valued at approximately $76,000. Berbice Capital Management LLC purchased a new stake in shares of Corning during the fourth quarter worth approximately $26,000. Finally, Basepoint Wealth LLC purchased a new stake in shares of Corning during the fourth quarter worth approximately $26,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of analyst reports. JPMorgan Chase & Co. lowered their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Susquehanna raised their target price on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Barclays lowered their target price 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. Morgan Stanley dropped their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, UBS Group reissued a “buy” rating and set a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $174.08.

Corning Trading Down 0.6%

NYSE:GLW opened at $151.49 on Friday. The stock has a fifty day moving average price of $175.43 and a two-hundred day moving average price of $163.44. The stock has a market capitalization of $130.49 billion, a price-to-earnings ratio of 69.17, a PEG ratio of 1.95 and a beta of 1.14. 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 1 year low of $64.33 and a 1 year high of $271.78.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company 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% compared to the same quarter last year. During the same quarter last year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s dividend payout ratio (DPR) is 51.14%.

Insider Buying and Selling

In related 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 transaction of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 0.25% of the company’s stock.

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.