Front Street Capital Management Inc. Acquires New Holdings in Corning Incorporated $GLW

Front Street Capital Management Inc. bought a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, Holdings Channel reports. The fund bought 141,078 shares of the electronics maker’s stock, valued at approximately $35,948,000. Corning comprises about 4.1% of Front Street Capital Management Inc.’s investment portfolio, making the stock its 8th biggest position.

Several other large investors have also recently modified their holdings of the business. Atwood & Palmer Inc. bought a new stake in shares of Corning in the second quarter worth $26,000. Burk Holdings LLC bought a new position in Corning during the 2nd quarter worth approximately $53,000. Aberdeen Wealth Management LLC bought a new stake in Corning during the second quarter valued at $57,000. First Community Trust NA acquired a new position in shares of Corning in the 2nd quarter valued at about $72,000. Finally, N.E.W. Advisory Services LLC bought a new position in shares of Corning during the 2nd quarter worth approximately $76,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 3.1%

GLW opened at $145.19 on Tuesday. Corning Incorporated has a 12 month low of $65.75 and a 12 month high of $271.78. The company has a market cap of $125.07 billion, a PE ratio of 66.30, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The company has a 50 day moving average of $174.00 and a 200 day moving average of $163.95.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts expect that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning’s dividend payout ratio is 51.14%.

Wall Street Analyst Weigh In

GLW has been the subject of several research reports. JPMorgan Chase & Co. reduced their target price on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Morgan Stanley dropped their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research note on Monday. Oppenheimer decreased their price target on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Finally, Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Ten investment 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.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction dated 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 owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

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.