Ieq Capital LLC Buys Shares of 171,416 Corning Incorporated $GLW

Ieq Capital LLC bought a new stake in Corning Incorporated (NYSE:GLW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 171,416 shares of the electronics maker’s stock, valued at approximately $43,785,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Security National Bank grew its holdings in shares of Corning by 340.4% during the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after acquiring an additional 56,056 shares in the last quarter. Herbst Group LLC purchased a new position in Corning in the second quarter valued at about $4,474,000. Principal Financial Group Inc. grew its stake in Corning by 1.2% in the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after purchasing an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC increased its position in Corning by 36.2% in the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after purchasing an additional 24,589 shares during the last quarter. Finally, Atlas Wealth LLC increased its position in Corning by 137.8% in the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after purchasing an additional 6,998 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. Morgan Stanley reduced their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Mizuho dropped their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. 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. Finally, Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Corning Stock Down 1.0%

Shares of Corning stock opened at $149.91 on Friday. Corning Incorporated has a 12-month low of $65.09 and a 12-month high of $271.78. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a 50 day moving average price of $174.83 and a two-hundred day moving average price of $163.35. The stock has a market capitalization of $129.13 billion, a P/E ratio of 68.45, a PEG ratio of 1.94 and a beta of 1.14.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS 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 company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the firm posted $0.60 earnings per share. The company’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. Equities analysts expect that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

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

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

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.