Corning Incorporated $GLW Shares Acquired by Courier Capital LLC

Courier Capital LLC lifted its holdings in Corning Incorporated (NYSE:GLW) by 25.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 43,922 shares of the electronics maker’s stock after purchasing an additional 8,797 shares during the quarter. Corning accounts for about 1.3% of Courier Capital LLC’s investment portfolio, making the stock its 21st biggest holding. Courier Capital LLC’s holdings in Corning were worth $6,753,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. State Street Corp increased its holdings in Corning by 13.4% in the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after buying an additional 4,845,027 shares in the last quarter. Bank of America Corp DE lifted its stake in Corning by 29.2% during the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after acquiring an additional 4,231,507 shares during the period. Wellington Management Group LLP lifted its stake in Corning by 50.9% during the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after acquiring an additional 4,446,514 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Corning during the 2nd quarter valued at about $1,510,911,000. Finally, Legal & General Group Plc purchased a new stake in shares of Corning during the 2nd quarter valued at about $1,212,283,000. 69.80% of the stock is owned by institutional investors.

Corning Stock Performance

GLW stock traded up $1.24 during midday trading on Tuesday, reaching $148.52. 7,344,179 shares of the company’s stock traded hands, compared to its average volume of 12,000,058. Corning Incorporated has a 52-week low of $77.39 and a 52-week high of $271.78. The stock has a market cap of $127.93 billion, a P/E ratio of 67.82, a PEG ratio of 2.00 and a beta of 1.13. 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 stock’s 50-day moving average is $155.78 and its 200 day moving average is $168.86.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company’s quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts anticipate that Corning Incorporated will post 3.28 EPS for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Corning’s dividend payout ratio is 51.14%.

Insider Buying and Selling

In related news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GLW. Barclays lowered their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. China Renaissance raised Corning from a “hold” rating to a “buy” rating and set a $238.00 price target on the stock in a report on Tuesday, September 8th. Bank of America dropped their price target on Corning from $243.00 to $200.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Oppenheimer reduced 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, Sanford C. Bernstein started coverage on Corning in a research report on Wednesday, September 30th. They set a “market perform” rating and a $140.00 price objective for the company. Thirteen research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $177.56.

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.