11,558 Shares in Corning Incorporated $GLW Purchased by Castle Rock Wealth Management LLC

Castle Rock Wealth Management LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 11,558 shares of the electronics maker’s stock, valued at approximately $2,952,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in GLW. Berbice Capital Management LLC purchased a new stake in shares of Corning in the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new position in Corning during the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning during the 4th quarter valued at $27,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning in the fourth quarter valued at $31,000. Finally, JPL Wealth Management LLC acquired a new stake in shares of Corning in the third quarter worth $33,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

GLW has been the topic of several research analyst reports. JPMorgan Chase & Co. lowered their target price on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Bank of America upped their price objective on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Susquehanna lifted their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. UBS Group reiterated a “buy” rating and set a $196.00 price objective on shares of Corning in a report on Wednesday, July 29th. Finally, Morgan Stanley dropped their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report 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. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Stock Performance

GLW opened at $157.45 on Friday. The stock’s 50 day simple moving average is $180.04 and its 200-day simple moving average is $159.02. 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 stock has a market cap of $135.63 billion, a PE ratio of 71.90, a P/E/G ratio of 2.01 and a beta of 1.14. Corning Incorporated has a 1 year low of $63.37 and a 1 year high of $271.78.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the company posted $0.60 earnings per share. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is 51.14%.

Insiders Place Their Bets

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over the last three months. 0.25% of the stock is owned by insiders.

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.