Hhlr Advisors LTD. Buys Shares of 10,266 Corning Incorporated $GLW

Hhlr Advisors LTD. purchased a new position in shares of Corning Incorporated (NYSE:GLW) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 10,266 shares of the electronics maker’s stock, valued at approximately $2,622,000. Corning makes up approximately 0.3% of Hhlr Advisors LTD.’s holdings, making the stock its 24th biggest position.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Magnolia Capital Advisors LLC acquired a new stake in Corning in the second quarter valued at $1,712,000. Vantage Point Financial LLC bought a new position in Corning during the 2nd quarter valued at $238,000. Freestone Grove Partners LP acquired a new position in Corning during the 2nd quarter worth $6,093,000. Caisse de depot et placement du Quebec bought a new stake in shares of Corning in the 2nd quarter worth about $70,711,000. Finally, First Bancorp Inc ME bought a new stake in shares of Corning in the 2nd quarter worth about $179,000. Institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

GLW has been the topic of a number of recent analyst reports. Citigroup cut their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Weiss Ratings lowered Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. JPMorgan Chase & Co. cut their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Oppenheimer decreased their target price on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.08.

Corning Trading Up 3.8%

NYSE GLW opened at $152.76 on Thursday. Corning Incorporated has a one year low of $66.14 and a one year high of $271.78. The company has a 50-day simple moving average of $172.96 and a 200-day simple moving average of $164.50. 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 firm has a market capitalization of $131.59 billion, a PE ratio of 69.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14.

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

Corning Dividend Announcement

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

Insider Buying and Selling at Corning

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. Insiders own 0.25% of the company’s stock.

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.