Lee Johnson Capital Management LLC Takes Position in Corning Incorporated $GLW

Lee Johnson Capital Management LLC bought a new stake in Corning Incorporated (NYSE:GLW) in the 2nd quarter, Holdings Channel.com reports. The firm bought 28,319 shares of the electronics maker’s stock, valued at approximately $7,234,000. Corning accounts for about 2.3% of Lee Johnson Capital Management LLC’s portfolio, making the stock its 10th largest position.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Norges Bank acquired a new stake in shares of Corning in the fourth quarter valued at approximately $921,435,000. Bank of New York Mellon Corp bought a new stake in Corning in the 2nd quarter valued at $1,510,911,000. Capital Research Global Investors lifted its holdings in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares during the last quarter. Deutsche Bank AG bought a new position in Corning during the second quarter worth $612,763,000. Finally, Polar Capital Holdings Plc increased its holdings in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

GLW has been the subject of a number of research reports. Bank of America raised their target price on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Citigroup reduced their price objective on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. UBS Group reiterated a “buy” rating and set a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and reduced their price target for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Finally, Morgan Stanley decreased their price objective on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Stock Up 4.4%

NYSE GLW opened at $173.29 on Tuesday. 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 1-year low of $63.37 and a 1-year high of $271.78. The company has a 50 day moving average of $176.54 and a 200-day moving average of $162.37. The company has a market cap of $149.27 billion, a price-to-earnings ratio of 79.13, a PEG ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping 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 for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities research analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is 51.14%.

Insiders Place Their Bets

In related news, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was 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 $169,371,500.38. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. 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.