Kestra Private Wealth Services LLC Has $11.03 Million Stock Position in Corning Incorporated $GLW

Kestra Private Wealth Services LLC reduced its position in shares of Corning Incorporated (NYSE:GLW) by 4.2% in the 1st quarter, HoldingsChannel reports. The firm owned 81,133 shares of the electronics maker’s stock after selling 3,585 shares during the period. Kestra Private Wealth Services LLC’s holdings in Corning were worth $11,032,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLW. Capital Research Global Investors acquired a new stake in shares of Corning during the third quarter worth approximately $907,164,000. Norges Bank bought a new stake in Corning during the 4th quarter worth approximately $921,435,000. Wellington Management Group LLP grew its position in Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares during the last quarter. Polar Capital Holdings Plc increased its holdings in Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership increased its holdings in Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after purchasing an additional 2,304,676 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the company. Bank of America boosted their price objective on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Morgan Stanley set a $180.00 price target on Corning in a report on Friday, May 8th. Oppenheimer upped their price target on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Mizuho increased their price objective on shares of Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Finally, Barclays raised their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average target price of $182.62.

Corning Trading Up 10.8%

GLW stock opened at $228.14 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $230.50. The company has a market cap of $196.35 billion, a P/E ratio of 109.16, a PEG ratio of 2.95 and a beta of 1.15. The business has a fifty day moving average of $183.60 and a 200-day moving average of $141.15.

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

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Activity at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock worth $30,692,560 over the last 90 days. Insiders own 0.25% of the company’s stock.

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.