Sanctuary Advisors LLC Grows Holdings in Corning Incorporated $GLW

Sanctuary Advisors LLC lifted its stake in shares of Corning Incorporated (NYSE:GLW) by 11.6% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 295,466 shares of the electronics maker’s stock after buying an additional 30,789 shares during the quarter. Sanctuary Advisors LLC’s holdings in Corning were worth $40,174,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also made changes to their positions in GLW. Beirne Wealth Consulting Services LLC increased its position in shares of Corning by 0.8% in the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after purchasing an additional 64 shares during the last quarter. Millstone Evans Group LLC grew its stake in Corning by 1.3% in the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock worth $733,000 after purchasing an additional 67 shares in the last quarter. Caldwell Trust Co increased its holdings in Corning by 0.5% in the first quarter. Caldwell Trust Co now owns 15,893 shares of the electronics maker’s stock valued at $2,161,000 after buying an additional 74 shares during the last quarter. KRS Capital Management LLC boosted its holdings in Corning by 2.2% in the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock worth $552,000 after purchasing an additional 88 shares during the period. Finally, Sheets Smith Wealth Management boosted its holdings in Corning by 2.1% in the first quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock worth $605,000 after purchasing an additional 90 shares during the period. Institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on GLW. Morgan Stanley set a $180.00 target price on shares of Corning in a report on Friday, May 8th. Barclays lifted their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. JPMorgan Chase & Co. boosted their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Susquehanna increased their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Finally, Citigroup raised their target price on shares of Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $194.69.

Insider Activity at Corning

In other news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. Company insiders own 0.25% of the company’s stock.

Corning Stock Performance

GLW stock opened at $187.94 on Wednesday. Corning Incorporated has a 1 year low of $52.19 and a 1 year high of $271.78. The stock 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. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The stock’s fifty day moving average is $194.07 and its two-hundred day moving average is $151.75.

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

Corning Dividend Announcement

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

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.