Perennial Investment Advisors LLC Takes Position in Corning Incorporated $GLW

Perennial Investment Advisors LLC bought a new stake in shares of Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,907 shares of the electronics maker’s stock, valued at approximately $1,253,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC boosted its holdings in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Corning in the 1st quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 5,522 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Corning in the second quarter worth about $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in shares of Corning during the second quarter valued at approximately $266,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Trading Up 3.8%

GLW opened at $152.76 on Thursday. Corning Incorporated has a 1-year low of $66.14 and a 1-year high of $271.78. The firm has a 50-day moving average price of $172.96 and a two-hundred day moving average price of $164.50. The stock has a market capitalization of $131.59 billion, a PE ratio of 69.75, a PEG ratio of 1.88 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last posted its quarterly earnings data 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 firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s dividend payout ratio is 51.14%.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $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 can be accessed through the SEC website. 0.25% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on GLW shares. Barclays decreased their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Monday. Susquehanna increased their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Citigroup dropped their price objective on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Finally, UBS Group restated a “buy” rating and issued a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Corning 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.