Welch Capital Partners LLC NY Takes $1.07 Million Position in Corning Incorporated $GLW

Welch Capital Partners LLC NY acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the second quarter, Holdings Channel reports. The firm acquired 4,194 shares of the electronics maker’s stock, valued at approximately $1,071,000. Corning comprises 0.2% of Welch Capital Partners LLC NY’s investment portfolio, making the stock its 16th largest holding.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLW. Berbice Capital Management LLC bought a new position in Corning during the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning during the 4th quarter valued at $26,000. Atwood & Palmer Inc. bought a new stake in shares of Corning in the 2nd quarter worth $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning in the 4th quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning in the fourth quarter valued at $31,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 1.0%

Shares of NYSE:GLW opened at $149.91 on Friday. The firm has a 50 day simple moving average of $174.83 and a 200 day simple moving average of $163.35. Corning Incorporated has a 52 week low of $65.09 and a 52 week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company has a market cap of $129.13 billion, a PE ratio of 68.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts expect that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors 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 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is presently 51.14%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note 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. Mizuho cut their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. JPMorgan Chase & Co. reduced their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Finally, Morgan Stanley lowered their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock 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 stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

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.