Alesco Advisors LLC An ESL Co Purchases Shares of 4,648 Corning Incorporated $GLW

Alesco Advisors LLC An ESL Co purchased a new position in Corning Incorporated (NYSE:GLW) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,648 shares of the electronics maker’s stock, valued at approximately $632,000.

A number of other large investors also recently modified their holdings of the company. Saturna Capital Corp bought a new stake in shares of Corning during the first quarter worth about $272,000. Millennium Capital Advisors LLC acquired a new stake in shares of Corning in the 1st quarter worth about $228,000. Himension Capital Singapore PTE. LTD. bought a new position in Corning in the 1st quarter valued at about $455,000. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of Corning in the first quarter worth approximately $12,716,000. Finally, ABN Amro Investment Solutions lifted its holdings in shares of Corning by 21.3% in the first quarter. ABN Amro Investment Solutions now owns 46,913 shares of the electronics maker’s stock valued at $6,379,000 after purchasing an additional 8,232 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Up 6.1%

GLW opened at $162.44 on Wednesday. The business’s fifty day simple moving average is $191.02 and its 200 day simple moving average is $154.27. Corning Incorporated has a 52 week low of $53.29 and a 52 week high of $271.78. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market cap of $139.80 billion, a PE ratio of 77.72, a P/E/G ratio of 2.01 and a beta of 1.09.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping 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 during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts expect that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is 53.59%.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on GLW. Mizuho upped their price target on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Susquehanna increased their price objective 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. Oppenheimer lifted their target price on shares of Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 7th. Barclays boosted their target price on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Bank of America raised their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $194.69.

Insider Activity at Corning

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 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 SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 over the last three months. Corporate 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.