Elevation Point Wealth Partners LLC Takes Position in Corning Incorporated $GLW

Elevation Point Wealth Partners LLC purchased a new position in Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 9,800 shares of the electronics maker’s stock, valued at approximately $2,503,000.

A number of other large investors also recently added to or reduced their stakes in GLW. Atwood & Palmer Inc. acquired a new stake in Corning in the 2nd quarter worth about $26,000. First Community Trust NA acquired a new position in shares of Corning during the second quarter valued at approximately $72,000. N.E.W. Advisory Services LLC purchased a new position in shares of Corning in the second quarter valued at approximately $76,000. Berbice Capital Management LLC purchased a new position in shares of Corning in the fourth quarter valued at approximately $26,000. Finally, Basepoint Wealth LLC acquired a new stake in shares of Corning in the fourth quarter worth approximately $26,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts recently commented on the company. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Bank of America lifted their target price on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Susquehanna upped their target price on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Mizuho reduced their target price on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Finally, Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and dropped their price objective for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Ten equities 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, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

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 shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Corning Stock Up 0.0%

Shares of GLW opened at $149.91 on Monday. Corning Incorporated has a 52-week low of $65.09 and a 52-week high of $271.78. The company has a market capitalization of $129.13 billion, a PE ratio of 68.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The stock has a fifty day simple moving average of $174.83 and a two-hundred day simple moving average of $163.72. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

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

Corning Dividend Announcement

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

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.