Stoneridge Investment Partners LLC Takes $514,000 Position in Corning Incorporated $GLW

Stoneridge Investment Partners LLC bought a new stake in Corning Incorporated (NYSE:GLW) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,715 shares of the electronics maker’s stock, valued at approximately $514,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Alliance Wealth Advisors LLC grew its position in shares of Corning by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock worth $1,033,000 after buying an additional 56 shares in the last quarter. Ares Financial Consulting LLC increased its stake in shares of Corning by 15.6% during the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after buying an additional 60 shares during the period. Signature Equity Partners LLC raised its holdings in Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC raised its holdings in Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after acquiring an additional 64 shares in the last quarter. Finally, Balefire LLC lifted its stake in Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock worth $1,305,000 after acquiring an additional 65 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Up 4.6%

Shares of NYSE:GLW opened at $165.85 on Friday. The company has a market capitalization of $142.86 billion, a PE ratio of 75.73, a P/E/G ratio of 2.12 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. Corning Incorporated has a twelve month low of $63.37 and a twelve month high of $271.78. The firm has a 50 day simple moving average of $176.82 and a 200-day simple moving average of $161.45.

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

Corning Dividend Announcement

The business also recently disclosed 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. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is currently 51.14%.

Insider Activity

In other news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated 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 directly owned 908,353 shares of the company’s stock, valued at approximately $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. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the topic of a number of analyst reports. Oppenheimer reduced their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. UBS Group reissued a “buy” rating and issued a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. Bank of America raised their price target on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Citigroup decreased their price target on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Finally, Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $174.08.

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.