Waverly Advisors LLC Has $35.22 Million Position in Corning Incorporated $GLW

Waverly Advisors LLC cut its holdings in Corning Incorporated (NYSE:GLW) by 11.4% during the second quarter, HoldingsChannel reports. The firm owned 137,870 shares of the electronics maker’s stock after selling 17,658 shares during the period. Waverly Advisors LLC’s holdings in Corning were worth $35,216,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in GLW. Bank OZK grew its holdings in Corning by 20.3% in the 2nd quarter. Bank OZK now owns 2,055 shares of the electronics maker’s stock valued at $525,000 after buying an additional 347 shares during the last quarter. Empirical Finance LLC raised its stake in Corning by 3.6% during the 2nd quarter. Empirical Finance LLC now owns 27,064 shares of the electronics maker’s stock valued at $6,913,000 after purchasing an additional 937 shares during the last quarter. Nykredit A S bought a new position in shares of Corning during the 2nd quarter worth about $75,675,000. Parkside Financial Bank & Trust raised its position in shares of Corning by 13.5% during the second quarter. Parkside Financial Bank & Trust now owns 7,916 shares of the electronics maker’s stock valued at $2,022,000 after buying an additional 943 shares during the last quarter. Finally, Range Advisory LLC lifted its stake in shares of Corning by 12.7% in the second quarter. Range Advisory LLC now owns 2,087 shares of the electronics maker’s stock valued at $533,000 after buying an additional 236 shares during the period. Institutional investors own 69.80% of the company’s stock.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning and Verizon signed a supply agreement running from 2027 through 2032 covering more than 80 million miles of high-density optical fiber and related connectivity products. The contract improves long-term revenue visibility and is expected to support Verizon’s broadband expansion and network capacity for AI workloads. Verizon signs optical fiber deal with Corning to expand broadband, support AI growth
• Positive Sentiment: The Verizon agreement reinforces Corning’s broader optical-connectivity growth strategy, following other data-center and AI-related relationships. Investors are treating fiber and networking demand as a major growth engine for the company. Optical Stocks Surge as Corning Inks Multibillion-Dollar Supply Deal With Verizon
• Positive Sentiment: Corning’s news also lifted other AI-infrastructure stocks, highlighting strong investor momentum around optical networks. Separately, China Renaissance initiated coverage with a Buy rating and a $238 price target, implying substantial upside from recent trading levels. AI infrastructure stocks rally on deal announcements from Qualcomm, Corning
• Neutral Sentiment: Recent analyst targets have generally remained above the stock’s current level, with a reported median target of $215. However, Corning’s elevated valuation and sharp prior volatility mean investors may already be pricing in considerable AI and fiber growth.
• Negative Sentiment: Reported insider activity has consisted of six sales and no purchases over the past six months, including sales by senior executives. This may raise caution about near-term sentiment, although insider transactions do not necessarily indicate a change in the company’s fundamentals.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on GLW shares. Morgan Stanley dropped their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. China Renaissance began coverage on Corning in a report on Tuesday. They issued a “buy” rating and a $238.00 price target on the stock. JPMorgan Chase & Co. lowered their price target 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, Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $178.64.

Corning Trading Up 7.4%

GLW stock traded up $11.43 during midday trading on Tuesday, hitting $165.73. 13,795,394 shares of the company’s stock were exchanged, compared to its average volume of 12,601,415. 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 stock’s fifty day moving average price is $162.71 and its 200-day moving average price is $165.56. Corning Incorporated has a one year low of $71.75 and a one year high of $271.78. The company has a market cap of $142.76 billion, a PE ratio of 75.68, a price-to-earnings-growth ratio of 1.98 and a beta of 1.16.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping 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 firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period last year, the company posted $0.60 EPS. The business’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The company 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 presently 51.14%.

Insider Activity

In related news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

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.