Capital Advisors Inc. OK Decreases Stake in Corning Incorporated $GLW

Capital Advisors Inc. OK cut its position in Corning Incorporated (NYSE:GLW) by 14.2% during the second quarter, HoldingsChannel reports. The firm owned 273,257 shares of the electronics maker’s stock after selling 45,119 shares during the quarter. Corning accounts for 1.0% of Capital Advisors Inc. OK’s holdings, making the stock its 28th biggest position. Capital Advisors Inc. OK’s holdings in Corning were worth $69,798,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of GLW. Alliance Wealth Advisors LLC increased its holdings in shares of Corning by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after acquiring an additional 56 shares during the last quarter. Ares Financial Consulting LLC lifted its stake in Corning by 15.6% during the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 60 shares during the last quarter. Signature Equity Partners LLC lifted its stake in 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 purchasing an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC lifted its position in shares of Corning by 0.8% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after buying an additional 64 shares during the last quarter. Finally, Balefire LLC boosted its holdings in shares of Corning by 0.7% in the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after buying an additional 65 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Trading Down 2.6%

Shares of GLW stock opened at $148.87 on Friday. The company has a market capitalization of $128.23 billion, a P/E ratio of 67.98, a price-to-earnings-growth ratio of 1.91 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. The business’s 50 day moving average is $171.18 and its two-hundred day moving average is $164.60. Corning Incorporated has a twelve month low of $66.14 and a twelve month high of $271.78.

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 firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s payout ratio is presently 51.14%.

Insider Activity

In other 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 transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on GLW shares. Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Citigroup reduced their target price on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Mizuho decreased their target price on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Morgan Stanley dropped their price target on 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, Oppenheimer reduced their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and an average 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.