FNY Investment Advisers LLC Takes Position in Corning Incorporated $GLW

FNY Investment Advisers LLC acquired a new position in Corning Incorporated (NYSE:GLW) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 3,818 shares of the electronics maker’s stock, valued at approximately $975,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLW. Cooper Financial Group raised its stake in Corning by 9.7% during the 2nd quarter. Cooper Financial Group now owns 9,486 shares of the electronics maker’s stock valued at $2,423,000 after purchasing an additional 837 shares during the period. Renaissance Investment Group LLC purchased a new stake in Corning during the 2nd quarter valued at approximately $281,000. Castle Rock Wealth Management LLC purchased a new stake in Corning during the 2nd quarter valued at approximately $2,952,000. Elevation Wealth Partners LLC raised its position in shares of Corning by 1,870.0% during the second quarter. Elevation Wealth Partners LLC now owns 394 shares of the electronics maker’s stock valued at $101,000 after buying an additional 374 shares during the last quarter. Finally, Czech National Bank raised its position in shares of Corning by 4.8% during the second quarter. Czech National Bank now owns 222,923 shares of the electronics maker’s stock valued at $56,941,000 after buying an additional 10,294 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Stock Up 0.5%

Shares of GLW opened at $157.45 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The stock has a market capitalization of $135.63 billion, a price-to-earnings ratio of 71.90, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. Corning Incorporated has a 1 year low of $63.37 and a 1 year high of $271.78. The business’s 50 day simple moving average is $180.04 and its 200-day simple moving average is $159.02.

Corning (NYSE:GLW) last posted its 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 net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period last year, the firm posted $0.60 earnings per share. Corning’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, equities analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is 51.14%.

Insider Transactions at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the stock. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Morgan Stanley reduced their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Susquehanna boosted their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. UBS Group reissued a “buy” rating and set a $196.00 price objective on shares of Corning in a report on Wednesday, July 29th. Finally, Barclays cut their price objective 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. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average target price 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.