Reaves W H & Co. Inc. Increases Stake in Corning Incorporated $GLW

Reaves W H & Co. Inc. lifted its stake in Corning Incorporated (NYSE:GLW) by 50.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 759,075 shares of the electronics maker’s stock after acquiring an additional 254,553 shares during the period. Corning comprises about 1.2% of Reaves W H & Co. Inc.’s holdings, making the stock its 27th biggest position. Reaves W H & Co. Inc.’s holdings in Corning were worth $66,465,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Corning during the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC purchased a new position in Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in Corning during the 4th quarter worth approximately $26,000. Strengthening Families & Communities LLC purchased a new position in Corning during the 3rd quarter worth approximately $27,000. Finally, Cornerstone Planning Group LLC raised its position in Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock worth $30,000 after buying an additional 124 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLW has been the subject of a number of recent research reports. Truist Financial raised their price target on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Morgan Stanley set a $180.00 price target on shares of Corning in a research report on Friday, May 8th. Susquehanna raised their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. JPMorgan Chase & Co. raised their price target on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $177.92.

Insider Activity

In other news, 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 sale, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 60,655 shares of company stock worth $12,046,561 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Corning Price Performance

Shares of NYSE GLW opened at $181.37 on Monday. The stock has a market capitalization of $156.09 billion, a price-to-earnings ratio of 86.78, a PEG ratio of 2.59 and a beta of 1.15. Corning Incorporated has a 12 month low of $48.88 and a 12 month high of $211.79. The firm’s 50 day simple moving average is $167.47 and its 200-day simple moving average is $126.87. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

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.