Focused Wealth Management Inc Takes Position in Corning Incorporated $GLW

Focused Wealth Management Inc bought a new position in Corning Incorporated (NYSE:GLW) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 4,335 shares of the electronics maker’s stock, valued at approximately $1,107,000.

Other institutional investors have also bought and sold shares of the company. Berbice Capital Management LLC bought a new position in shares of Corning during the fourth quarter valued at $26,000. Basepoint Wealth LLC bought a new position in Corning during the 4th quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new position in Corning in the second quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning during the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning during the fourth quarter worth approximately $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Up 4.4%

NYSE:GLW opened at $173.29 on Tuesday. The company has a market cap of $149.27 billion, a price-to-earnings ratio of 79.13, a P/E/G ratio of 2.12 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. The stock’s fifty day moving average price is $176.54 and its two-hundred day moving average price is $162.37. Corning Incorporated has a 52-week low of $63.37 and a 52-week 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 the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts anticipate that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 51.14%.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on the company. UBS Group restated a “buy” rating and set a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Wall Street Zen lowered Corning from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Citigroup decreased their target price on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Finally, Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and reduced their price target for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Insider Activity

In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred on 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 directly owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by company insiders.

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.