Opinicus Capital Inc. Invests $369,000 in Corning Incorporated $GLW

Opinicus Capital Inc. acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the 1st quarter, according to its most recent filing with the SEC. The institutional investor acquired 2,716 shares of the electronics maker’s stock, valued at approximately $369,000.

A number of other large investors also recently modified their holdings of the company. Berbice Capital Management LLC purchased a new stake in shares of Corning in the 4th quarter valued at $26,000. Basepoint Wealth LLC purchased a new position in Corning in the 4th quarter worth $26,000. Kemnay Advisory Services Inc. purchased a new position in Corning in the 4th quarter worth $27,000. Litman Gregory Wealth Management LLC bought a new stake in Corning in the fourth quarter worth $31,000. Finally, JPL Wealth Management LLC purchased a new stake in Corning during the third quarter valued at about $33,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Trading Up 2.6%

GLW opened at $187.94 on Wednesday. Corning Incorporated has a one year low of $52.19 and a one year high of $271.78. 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 business has a 50 day simple moving average of $194.07 and a two-hundred day simple moving average of $151.75. The firm has a market capitalization of $161.75 billion, a price-to-earnings ratio of 89.92, a PEG ratio of 2.40 and a beta of 1.09.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company earned $0.54 EPS. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s payout ratio is 53.59%.

Insiders Place Their Bets

In other Corning news, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% 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. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 over the last quarter. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on GLW. Oppenheimer raised their price objective on Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research note on Tuesday, July 7th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. UBS Group set a $243.00 price objective on Corning in a research note on Monday, July 6th. Finally, JPMorgan Chase & Co. upped their price target on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $194.69.

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.