Focused Wealth Management Inc Invests $1.11 Million in Corning Incorporated $GLW

Focused Wealth Management Inc purchased a new stake in Corning Incorporated (NYSE:GLW) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 4,335 shares of the electronics maker’s stock, valued at approximately $1,107,000.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC increased its stake in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in shares of Corning during the first quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Corning in the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in shares of Corning in the 2nd quarter valued at $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were 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 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 position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by company insiders.

Corning Stock Performance

GLW opened at $173.29 on Tuesday. The business’s 50-day moving average price is $176.54 and its two-hundred day moving average price is $162.37. Corning Incorporated has a 1 year low of $63.37 and a 1 year high of $271.78. The company has a market capitalization of $149.27 billion, a price-to-earnings ratio of 79.13, a P/E/G ratio of 2.12 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

Corning (NYSE:GLW) last issued its quarterly 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. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal 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 given 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 0.6%. Corning’s dividend payout ratio is 51.14%.

Analyst Ratings Changes

Several research firms have weighed in on GLW. Barclays reduced their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. UBS Group reaffirmed a “buy” rating and set a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Morgan Stanley cut their price objective on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Oppenheimer decreased their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Finally, Bank of America boosted their price objective on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price 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.