Corning Incorporated $GLW Stock Position Reduced by HighTower Advisors LLC

HighTower Advisors LLC decreased its position in Corning Incorporated (NYSE:GLW) by 18.4% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 354,034 shares of the electronics maker’s stock after selling 79,700 shares during the quarter. HighTower Advisors LLC’s holdings in Corning were worth $90,431,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in GLW. Berbice Capital Management LLC bought a new position in Corning during the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new stake in Corning during the fourth quarter valued at $26,000. Atwood & Palmer Inc. bought a new stake in Corning during the second quarter valued at $26,000. Rogco LP acquired a new stake in shares of Corning during the second quarter worth $27,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in shares of Corning during the fourth quarter worth $27,000. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

GLW has been the subject of several research reports. JPMorgan Chase & Co. decreased their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. UBS Group restated a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Finally, Truist Financial raised Corning from a “hold” rating to a “buy” rating and lowered their target price for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Stock Down 0.1%

Shares of Corning stock opened at $154.22 on Tuesday. 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 Incorporated has a 1-year low of $70.06 and a 1-year high of $271.78. The business’s fifty day moving average price is $162.71 and its two-hundred day moving average price is $165.56. The company has a market capitalization of $132.84 billion, a P/E ratio of 70.42, a PEG ratio of 1.98 and a beta of 1.16.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate 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 analysts’ expectations of $4.63 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. 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 forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

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.