Vise Technologies Inc. Buys Shares of 40,530 Corning Incorporated $GLW

Vise Technologies Inc. bought a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, HoldingsChannel reports. The fund bought 40,530 shares of the electronics maker’s stock, valued at approximately $10,353,000.

Several other hedge funds also recently modified their holdings of the company. Berbice Capital Management LLC bought a new position in Corning in the fourth quarter valued at about $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning during the fourth quarter worth about $26,000. Atwood & Palmer Inc. acquired a new position in shares of Corning in the second quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning in the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in Corning in the 4th quarter valued at approximately $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

Corning stock opened at $151.49 on Friday. The stock’s 50 day moving average is $175.43 and its 200 day moving average is $163.44. Corning Incorporated has a one year low of $64.33 and a one year high of $271.78. The firm has a market cap of $130.49 billion, a P/E ratio of 69.17, a P/E/G ratio of 1.95 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 released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts expect that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The company also recently disclosed 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 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is currently 51.14%.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the 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 sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on GLW. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and decreased their price target for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. JPMorgan Chase & Co. dropped their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Wall Street Zen lowered shares of Corning from a “strong-buy” rating to a “buy” rating in a report on Sunday, August 16th. Finally, Bank of America boosted their price objective on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note 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 company. According to MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

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.