Hollencrest Capital Management Reduces Stock Position in Corning Incorporated $GLW

Hollencrest Capital Management cut its stake in Corning Incorporated (NYSE:GLW) by 23.1% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 20,505 shares of the electronics maker’s stock after selling 6,146 shares during the quarter. Hollencrest Capital Management’s holdings in Corning were worth $5,238,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Security National Bank boosted its stake in shares of Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after buying an additional 56,056 shares during the last quarter. Herbst Group LLC purchased a new stake in Corning during the second quarter valued at $4,474,000. Principal Financial Group Inc. increased its position in Corning by 1.2% during the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after acquiring an additional 10,591 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in Corning by 36.2% in the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after acquiring an additional 24,589 shares during the period. Finally, Atlas Wealth LLC lifted its holdings in Corning by 137.8% in the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock valued at $1,642,000 after acquiring an additional 6,998 shares during the period. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 2.6%

GLW stock opened at $148.87 on Friday. Corning Incorporated has a twelve month low of $66.14 and a twelve month high of $271.78. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a market cap of $128.23 billion, a P/E ratio of 67.98, a PEG ratio of 1.91 and a beta of 1.14. The business’s 50-day moving average price is $171.18 and its 200-day moving average price is $164.60.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the company posted $0.60 EPS. The firm’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities research analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is presently 51.14%.

Analyst Ratings Changes

GLW has been the subject of a number of recent research reports. UBS Group restated a “buy” rating and set a $196.00 price target on shares of Corning in a research note on Wednesday, July 29th. Morgan Stanley lowered their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $205.00 to $175.00 in a report on Sunday, August 2nd. Citigroup cut their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Finally, Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. 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 stock has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Insider Activity

In other news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s 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 sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

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.