Greg Jennings LLC Acquires 19,247 Shares of Corning Incorporated $GLW

Greg Jennings LLC bought a new stake in Corning Incorporated (NYSE:GLW) during the third quarter, HoldingsChannel.com reports. The fund bought 19,247 shares of the electronics maker’s stock, valued at approximately $2,959,000. Corning comprises 2.0% of Greg Jennings LLC’s investment portfolio, making the stock its 18th biggest holding.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Capital Square LLC acquired a new stake in Corning in the 3rd quarter valued at $243,000. Herold Advisors Inc. raised its position in Corning by 1.1% in the third quarter. Herold Advisors Inc. now owns 11,540 shares of the electronics maker’s stock valued at $1,774,000 after purchasing an additional 125 shares during the period. Kaufman Rossin Wealth LLC lifted its stake in shares of Corning by 6.0% during the third quarter. Kaufman Rossin Wealth LLC now owns 2,526 shares of the electronics maker’s stock worth $388,000 after purchasing an additional 144 shares in the last quarter. Cottage Street Advisors LLC lifted its stake in shares of Corning by 6.1% during the third quarter. Cottage Street Advisors LLC now owns 9,807 shares of the electronics maker’s stock worth $1,508,000 after purchasing an additional 567 shares in the last quarter. Finally, IFP Advisors Inc lifted its stake in shares of Corning by 6.5% during the third quarter. IFP Advisors Inc now owns 46,703 shares of the electronics maker’s stock worth $7,181,000 after purchasing an additional 2,839 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction dated 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 owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the subject of several analyst reports. Mizuho decreased their target price on Corning from $210.00 to $180.00 and set an “outperform” rating for the company in a research report on Tuesday, September 15th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Sanford C. Bernstein began coverage on Corning in a research report on Wednesday, September 30th. They set a “market perform” rating and a $140.00 price target on the stock. Finally, Morgan Stanley decreased their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. 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 MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average price target of $177.56.

Corning Stock Up 0.6%

GLW traded up $0.83 during trading hours on Monday, reaching $132.83. 6,864,080 shares of the stock traded hands, compared to its average volume of 11,934,437. Corning Incorporated has a fifty-two week low of $77.39 and a fifty-two week high of $271.78. The company has a market cap of $114.42 billion, a price-to-earnings ratio of 60.65, a PEG ratio of 1.68 and a beta of 1.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The firm’s fifty day simple moving average is $154.18 and its two-hundred day simple moving average is $168.95.

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

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s payout ratio is presently 51.14%.

About Corning

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.