Lineweaver Wealth Advisors LLC Decreases Stock Holdings in Corning Incorporated $GLW

by · The Cerbat Gem

Lineweaver Wealth Advisors LLC decreased its holdings in shares of Corning Incorporated (NYSE:GLW – Free Report) by 11.6% during the second quarter, Holdings Channel.com reports. The firm owned 26,298 shares of the electronics maker’s stock after selling 3,443 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in Corning were worth $1,383,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of GLW. Brighton Jones LLC raised its stake in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares in the last quarter. Gotham Asset Management LLC purchased a new stake in Corning during the fourth quarter valued at $306,000. Janus Henderson Group PLC raised its stake in shares of Corning by 2.1% in the fourth quarter. Janus Henderson Group PLC now owns 86,952 shares of the electronics maker’s stock valued at $4,132,000 after acquiring an additional 1,766 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Corning by 5.0% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,182 shares of the electronics maker’s stock valued at $2,812,000 after acquiring an additional 2,835 shares during the period. Finally, Man Group plc purchased a new stake in shares of Corning in the fourth quarter valued at $2,958,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Lewis A. Steverson sold 16,646 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares in the company, valued at approximately $2,473,804.98. This trade represents a 29.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the sale, the chief executive officer owned 809,295 shares in the company, valued at $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 163,950 shares of company stock worth $10,449,192. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Oppenheimer reissued an “outperform” rating and issued a $72.00 target price (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Mizuho increased their target price on shares of Corning from $63.00 to $74.00 and gave the company an “outperform” rating in a research note on Friday, August 8th. Susquehanna reissued a “positive” rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Argus reissued a “buy” rating and issued a $68.00 target price on shares of Corning in a research note on Wednesday, July 30th. Finally, Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus target price of $66.75.

Get Our Latest Research Report on Corning

Corning Stock Up 1.0%

Shares of Corning stock opened at $78.74 on Wednesday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $78.81. The firm’s 50-day moving average is $63.79 and its two-hundred day moving average is $52.89. The stock has a market cap of $67.45 billion, a price-to-earnings ratio of 83.77, a PEG ratio of 1.75 and a beta of 1.09.

Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. Corning’s dividend payout ratio (DPR) is currently 119.15%.

About Corning

(Free Report)

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.

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