Onyx Bridge Wealth Group LLC Makes New Investment in Corning Incorporated $GLW

Onyx Bridge Wealth Group LLC acquired a new stake in Corning Incorporated (NYSE:GLW) in the 1st quarter, Holdings Channel.com reports. The fund acquired 2,853 shares of the electronics maker’s stock, valued at approximately $388,000.

Other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. bought a new position in Corning in the 1st quarter valued at about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Corning during the 2nd quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in shares of Corning during the 2nd quarter worth approximately $266,000. 69.80% of the stock is currently owned by institutional investors.

Corning Price Performance

Shares of NYSE:GLW opened at $223.00 on Monday. Corning Incorporated has a one year low of $51.32 and a one year high of $230.50. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The company has a market cap of $191.92 billion, a price-to-earnings ratio of 106.70, a PEG ratio of 3.16 and a beta of 1.15. The firm has a 50 day simple moving average of $184.70 and a 200 day simple moving average of $142.10.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. Corning’s payout ratio is currently 53.59%.

Insiders Place Their Bets

In other news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, 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. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 160,655 shares of company stock worth $30,692,560. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have commented on GLW shares. Mizuho boosted their price objective on shares of Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. boosted their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Oppenheimer upped their price objective on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $180.00 price objective on Corning in a research note on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $182.62.

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.