Moran Wealth Management LLC Takes $408,000 Position in Corning Incorporated $GLW

Moran Wealth Management LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the first quarter, Holdings Channel reports. The firm purchased 3,001 shares of the electronics maker’s stock, valued at approximately $408,000.

Several other institutional investors also recently added to or reduced their stakes in GLW. Plimoth Trust Co. LLC acquired a new stake in shares of Corning in the first quarter valued at approximately $371,000. Leelyn Smith LLC purchased a new stake in Corning in the 1st quarter valued at $219,000. Baer Investment Advisory LLC purchased a new stake in Corning in the 1st quarter valued at $301,000. World Investment Advisors boosted its stake in Corning by 0.3% during the 1st quarter. World Investment Advisors now owns 31,385 shares of the electronics maker’s stock worth $4,267,000 after purchasing an additional 109 shares during the period. Finally, Canal Capital Management LLC acquired a new stake in Corning during the 1st quarter worth $218,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of recent research reports. Mizuho lifted their price objective on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Bank of America raised their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Finally, Truist Financial increased their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday, June 22nd. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $193.54.

Insiders Place Their Bets

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. This represents a 24.27% 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. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction on Friday, May 22nd. The shares were 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. This trade represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 160,655 shares of company stock worth $30,692,560. Corporate insiders own 0.25% of the company’s stock.

Corning Stock Performance

Shares of NYSE:GLW traded down $15.31 during midday trading on Tuesday, hitting $179.49. The stock had a trading volume of 3,830,856 shares, compared to its average volume of 12,938,089. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $271.78. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a 50 day moving average price of $191.10 and a two-hundred day moving average price of $147.55. The company has a market capitalization of $154.47 billion, a PE ratio of 86.08, a P/E/G ratio of 2.82 and a beta of 1.09.

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, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is 53.59%.

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.