Texas Capital Bank Wealth Management Services Inc Purchases New Holdings in Corning Incorporated $GLW

Texas Capital Bank Wealth Management Services Inc acquired a new stake in shares of Corning Incorporated (NYSE:GLW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 3,122 shares of the electronics maker’s stock, valued at approximately $797,000.

Other institutional investors also recently made changes to their positions in the company. Atwood & Palmer Inc. acquired a new stake in shares of Corning during the second quarter worth approximately $26,000. First Community Trust NA acquired a new stake in Corning in the second quarter valued at $72,000. N.E.W. Advisory Services LLC bought a new position in Corning during the 2nd quarter valued at $76,000. Berbice Capital Management LLC bought a new position in Corning during the 4th quarter valued at $26,000. Finally, Basepoint Wealth LLC acquired a new position in Corning during the 4th quarter worth $26,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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 stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders own 0.25% of the company’s stock.

Corning Stock Up 4.4%

Shares of NYSE:GLW opened at $173.29 on Tuesday. The company’s fifty day moving average is $176.54 and its two-hundred day moving average is $162.37. 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 $63.37 and a 1-year high of $271.78. The stock has a market capitalization of $149.27 billion, a price-to-earnings ratio of 79.13, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14.

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

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 dividend on an annualized basis and a yield of 0.6%. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on GLW. UBS Group reissued a “buy” rating and issued a $196.00 target price on shares of Corning in a research report on Wednesday, July 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. JPMorgan Chase & Co. lowered their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Finally, Citigroup cut their price objective on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $174.08.

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.