Fund Advisors of America Inc FL Takes Position in Corning Incorporated $GLW

Fund Advisors of America Inc FL acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 12,387 shares of the electronics maker’s stock, valued at approximately $1,085,000. Corning makes up about 1.0% of Fund Advisors of America Inc FL’s holdings, making the stock its 29th largest holding.

A number of other hedge funds also recently bought and sold shares of GLW. Merit Financial Group LLC lifted its stake in Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after purchasing an additional 6,493 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its position in Corning by 4.9% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after buying an additional 12,297 shares during the period. Security National Bank grew its stake in shares of Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after buying an additional 56,056 shares during the last quarter. Natixis Advisors LLC increased its holdings in shares of Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after buying an additional 116,583 shares during the period. Finally, Three Seasons Wealth LLC purchased a new position in shares of Corning in the fourth quarter worth about $1,750,000. Institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on GLW. UBS Group increased their target price on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Susquehanna increased their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Citigroup raised their price objective on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Insider Activity

In related news, SVP Jaymin Amin sold 27,395 shares of Corning 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 transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by corporate insiders.

Corning Trading Up 0.2%

Shares of GLW stock opened at $195.28 on Friday. Corning Incorporated has a 1 year low of $49.97 and a 1 year high of $211.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $180.63 and its two-hundred day simple moving average is $137.25. The company has a market cap of $168.06 billion, a PE ratio of 93.44, a price-to-earnings-growth ratio of 2.79 and a beta of 1.15.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 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 firm’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio 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.