NewEdge Wealth LLC Invests $13.79 Million in Corning Incorporated $GLW

NewEdge Wealth LLC bought a new stake in Corning Incorporated (NYSE:GLW) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 53,992 shares of the electronics maker’s stock, valued at approximately $13,791,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC grew its position in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in shares of Corning in the first quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new position in Corning during the second quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in Corning during the second quarter worth $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Barclays dropped their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Morgan Stanley lowered their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and dropped their price objective for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Finally, Mizuho reduced their target price on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Corning Price Performance

NYSE:GLW opened at $152.52 on Thursday. Corning Incorporated has a 52 week low of $63.37 and a 52 week high of $271.78. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $131.38 billion, a P/E ratio of 69.64, a P/E/G ratio of 2.05 and a beta of 1.14. The stock’s fifty day moving average is $175.94 and its two-hundred day moving average is $163.10.

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

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given 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 0.7%. Corning’s dividend 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 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 sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the company’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 transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

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.