Leigh Baldwin & CO. LLC Purchases Shares of 8,176 Corning Incorporated $GLW

Leigh Baldwin & CO. LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 8,176 shares of the electronics maker’s stock, valued at approximately $2,088,000. Corning makes up about 1.1% of Leigh Baldwin & CO. LLC’s holdings, making the stock its 24th biggest position.

Other large investors also recently modified their holdings of the company. Alliance Wealth Advisors LLC increased its position in shares of Corning by 1.4% in the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after acquiring an additional 56 shares during the last quarter. Ares Financial Consulting LLC boosted its position in Corning by 15.6% during the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock valued at $113,000 after purchasing an additional 60 shares during the last quarter. Signature Equity Partners LLC boosted its position in Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after purchasing an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC increased its position in shares of Corning by 0.8% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after purchasing an additional 64 shares during the last quarter. Finally, Balefire LLC raised its position in Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock worth $1,305,000 after acquiring an additional 65 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on 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 owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the subject of a number of analyst reports. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Susquehanna raised their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Mizuho cut their target price on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. 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. Finally, Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Price Performance

GLW stock opened at $149.91 on Monday. The company’s 50-day moving average price is $174.83 and its two-hundred day moving average price is $163.72. The firm has a market cap of $129.13 billion, a P/E ratio of 68.45, a P/E/G ratio of 1.92 and a beta of 1.14. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $65.09 and a 12 month high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. 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 earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is currently 51.14%.

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.