Maridea Wealth Management LLC Makes New $1.95 Million Investment in Corning Incorporated $GLW

Maridea Wealth Management LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW) during the 1st quarter, HoldingsChannel reports. The institutional investor acquired 14,372 shares of the electronics maker’s stock, valued at approximately $1,954,000.

A number of other hedge funds also recently modified their holdings of GLW. Pinnacle Wealth Management Advisory Group LLC boosted its position in Corning by 13.6% during the 1st quarter. Pinnacle Wealth Management Advisory Group LLC now owns 3,425 shares of the electronics maker’s stock worth $466,000 after acquiring an additional 409 shares during the period. VCI Wealth Management LLC acquired a new position in shares of Corning in the 1st quarter valued at about $1,132,000. Welch Group LLC purchased a new stake in shares of Corning in the first quarter worth approximately $687,000. Armbruster Capital Management Inc. purchased a new stake in shares of Corning in the first quarter worth approximately $377,000. Finally, Pacific Sage Partners LLC acquired a new stake in shares of Corning during the first quarter worth approximately $265,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Activity

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This represents a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 160,655 shares of company stock valued at $30,692,560. Corporate insiders own 0.25% of the company’s stock.

Corning Price Performance

NYSE GLW opened at $223.00 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $191.92 billion, a PE ratio of 106.70, a price-to-earnings-growth ratio of 3.26 and a beta of 1.15. Corning Incorporated has a 12-month low of $51.32 and a 12-month high of $230.50. The company has a 50 day moving average price of $184.70 and a two-hundred day moving average price of $141.72.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.54 EPS. 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 Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is presently 53.59%.

Analyst Ratings Changes

A number of brokerages recently commented on GLW. UBS Group boosted their price objective on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Barclays increased their target price on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Finally, Citigroup upped their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

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.