RFG Bristol Wealth Advisors LLC Boosts Stake in Corning Incorporated $GLW

by · The Markets Daily

RFG Bristol Wealth Advisors LLC boosted its position in Corning Incorporated (NYSE:GLW – Free Report) by 77.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,077 shares of the electronics maker’s stock after purchasing an additional 4,824 shares during the period. RFG Bristol Wealth Advisors LLC’s holdings in Corning were worth $1,703,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of GLW. Alliance Wealth Advisors LLC lifted its position in shares of Corning by 1.4% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after buying an additional 56 shares during the last quarter. Ares Financial Consulting LLC increased its holdings in Corning by 15.6% in the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after acquiring an additional 60 shares during the last quarter. Signature Equity Partners LLC increased its holdings in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after acquiring an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC raised its stake in 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 period. Finally, Balefire LLC raised its stake in Corning by 0.7% in the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after acquiring an additional 65 shares during the period. 69.80% of the stock is owned by institutional investors.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction on 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 owned 15,052 shares of the company’s stock, 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 document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is owned by company insiders.

Key Corning News

Here are the key news stories impacting Corning this week:

  • Positive Sentiment: AI infrastructure demand is a key bullish theme. Analysts identify Corning’s optical fiber and communications components as beneficiaries of expanding data-center and high-speed networking investment, with rising backlogs potentially supporting future revenue growth. Buy GLW and CIEN to Gain More on AI Communication Component Space Rally
  • Positive Sentiment: Growth-focused coverage continues to highlight Corning as a long-term opportunity because of its specialized glass and optical-fiber businesses serving major technology customers. Its recent earnings also showed strong momentum, with revenue up 17.1% year over year and earnings exceeding estimates. Why Corning Is a Top Growth Stock for the Long Term
  • Positive Sentiment: Truist raised its price target on GLW from $175 to $182, signaling increased confidence in the company’s outlook. Corning also declared a $0.28 quarterly dividend, maintaining shareholder returns, although the indicated yield is modest at approximately 0.7%. Truist Raises Target for Corning
  • Neutral Sentiment: Investors are awaiting Corning’s third-quarter 2026 results and guidance for evidence that AI-driven demand is translating into sustained growth. The company previously guided to third-quarter EPS of $0.85–$0.89. Corning Q3 2026 Earnings Expectations
  • Neutral Sentiment: Bernstein reaffirmed a Hold rating, suggesting the expected growth may already be reflected in the stock’s valuation. Corning trades at a high earnings multiple, increasing sensitivity to any slowdown or disappointing guidance. Bernstein Reaffirms Hold Rating
  • Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of Corning investors. Although the announcement does not establish wrongdoing, it adds headline and litigation risk that could weigh on sentiment. Pomerantz Investor Investigation

Corning Price Performance

Shares of GLW traded up $3.79 during midday trading on Friday, hitting $156.62. 6,665,620 shares of the company traded hands, compared to its average volume of 12,044,563. The stock has a 50-day moving average of $155.77 and a 200-day moving average of $168.56. Corning Incorporated has a one year low of $77.39 and a one year high of $271.78. The firm has a market cap of $134.91 billion, a P/E ratio of 71.51, a PEG ratio of 2.08 and a beta of 1.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s revenue was up 17.1% compared to the same quarter last year. During the same period last year, the business earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on the stock. China Renaissance upgraded shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research report on Tuesday, September 8th. The Goldman Sachs Group reissued an “outperform” rating on shares of Corning in a research report on Tuesday, September 15th. Truist Financial upped their price target on shares of Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Citigroup reduced their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Finally, Bank of America lowered their target price on shares of Corning from $243.00 to $200.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $177.56.

View Our Latest Research Report on GLW

Corning Company Profile

(Free Report)

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.

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