Assetmark Inc. Acquires 66,026 Shares of Corning Incorporated $GLW

Assetmark Inc. boosted its stake in Corning Incorporated (NYSE:GLW) by 782.4% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 74,465 shares of the electronics maker’s stock after purchasing an additional 66,026 shares during the quarter. Assetmark Inc.’s holdings in Corning were worth $10,125,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Beirne Wealth Consulting Services LLC lifted its holdings in shares of Corning by 0.8% in the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after acquiring an additional 64 shares during the last quarter. Millstone Evans Group LLC boosted its holdings in Corning by 1.3% during the 1st quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock valued at $733,000 after acquiring an additional 67 shares during the period. Geneos Wealth Management Inc. boosted its holdings in Corning by 1.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock valued at $623,000 after acquiring an additional 70 shares during the period. Caldwell Trust Co grew its position in Corning by 0.5% in the 1st quarter. Caldwell Trust Co now owns 15,893 shares of the electronics maker’s stock valued at $2,161,000 after acquiring an additional 74 shares during the last quarter. Finally, KRS Capital Management LLC increased its stake in Corning by 2.2% in the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock worth $552,000 after purchasing an additional 88 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of GLW opened at $152.97 on Tuesday. Corning Incorporated has a twelve month low of $53.29 and a twelve month high of $271.78. The firm’s fifty day simple moving average is $191.73 and its 200-day simple moving average is $153.75. The firm has a market capitalization of $131.65 billion, a price-to-earnings ratio of 73.19, a PEG ratio of 2.03 and a beta of 1.09. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts forecast that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Dividend Announcement

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 $0.28 dividend. 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 is 53.59%.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of analyst reports. Susquehanna lifted their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Bank of America lifted their price target on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. UBS Group set a $243.00 price target on Corning in a report on Monday, July 6th. Finally, Morgan Stanley set a $180.00 target price on Corning in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.69.

Insider Activity

In other Corning news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock worth $30,692,560 over the last 90 days. 0.25% of the stock is owned by corporate 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.