TritonPoint Partners LLC Purchases New Holdings in Corning Incorporated $GLW

TritonPoint Partners LLC purchased a new stake in Corning Incorporated (NYSE:GLW) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 3,060 shares of the electronics maker’s stock, valued at approximately $268,000.

Several other institutional investors have also made changes to their positions in the stock. Beese Fulmer Investment Management Inc. boosted its stake in shares of Corning by 2.5% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock valued at $336,000 after buying an additional 92 shares during the period. 3Chopt Investment Partners LLC boosted its stake in shares of Corning by 1.0% in the fourth quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock valued at $897,000 after buying an additional 97 shares during the period. Patten & Patten Inc. TN boosted its stake in shares of Corning by 0.6% in the fourth quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock valued at $1,558,000 after buying an additional 100 shares during the period. Vermillion Wealth Management Inc. boosted its stake in shares of Corning by 32.8% in the fourth quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker’s stock valued at $36,000 after buying an additional 100 shares during the period. Finally, Joel Isaacson & Co. LLC boosted its stake in shares of Corning by 0.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock valued at $1,797,000 after buying an additional 102 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 160,655 shares of company stock worth $30,692,561 in the last ninety days. Insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on GLW. Bank of America boosted their price target on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Oppenheimer boosted their price target on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Citigroup boosted their price target on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. boosted their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

Corning Trading Up 0.4%

Shares of GLW stock opened at $179.85 on Monday. The stock’s fifty day moving average price is $177.15 and its two-hundred day moving average price is $134.03. The company has a market cap of $154.79 billion, a PE ratio of 86.05, a P/E/G ratio of 2.56 and a beta of 1.15. Corning Incorporated has a fifty-two week low of $49.47 and a fifty-two week high of $211.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

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

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is currently 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.