Neville Rodie & Shaw Inc. Raises Position in Corning Incorporated $GLW

Neville Rodie & Shaw Inc. increased its stake in Corning Incorporated (NYSE:GLW) by 5.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 68,774 shares of the electronics maker’s stock after buying an additional 3,855 shares during the quarter. Corning comprises 1.1% of Neville Rodie & Shaw Inc.’s portfolio, making the stock its 26th largest position. Neville Rodie & Shaw Inc.’s holdings in Corning were worth $17,567,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of GLW. Berbice Capital Management LLC purchased a new position in Corning in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning during the fourth quarter valued at approximately $26,000. MBM Wealth Consultants LLC acquired a new position in shares of Corning during the first quarter worth $42,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the fourth quarter worth $27,000. Finally, IMG Wealth Management Inc. purchased a new position in shares of Corning in the first quarter valued at $43,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Price Performance

Shares of GLW opened at $146.67 on Tuesday. The firm has a market cap of $126.34 billion, a price-to-earnings ratio of 66.97, a PEG ratio of 1.78 and a beta of 1.14. The stock has a 50 day moving average of $181.97 and a 200-day moving average of $157.64. 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 Incorporated has a 52 week low of $62.65 and a 52 week high of $271.78.

Corning (NYSE:GLW) last issued its quarterly 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 return on equity of 20.09% and a net margin of 11.20%.The business 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 business earned $0.60 EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts forecast that Corning Incorporated will post 3.25 EPS for the current year.

Corning Dividend Announcement

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 paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s payout ratio is presently 51.14%.

Insider Activity at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 in the last ninety days. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on GLW shares. Susquehanna raised their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Bank of America raised their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. JPMorgan Chase & Co. dropped their target price on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, Morgan Stanley lowered their price objective on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat, 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.