QRG Capital Management Inc. Increases Position in Corning Incorporated $GLW

QRG Capital Management Inc. increased its holdings in Corning Incorporated (NYSE:GLW) by 58.7% in the 1st quarter, HoldingsChannel.com reports. The fund owned 112,932 shares of the electronics maker’s stock after buying an additional 41,785 shares during the period. QRG Capital Management Inc.’s holdings in Corning were worth $15,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently modified their holdings of the business. HB Wealth Management LLC lifted its holdings in Corning by 3.3% during the first quarter. HB Wealth Management LLC now owns 72,301 shares of the electronics maker’s stock worth $9,831,000 after acquiring an additional 2,291 shares during the period. Moran Wealth Management LLC bought a new position in Corning in the 1st quarter valued at $408,000. Plimoth Trust Co. LLC bought a new position in Corning in the 1st quarter valued at $371,000. Leelyn Smith LLC purchased a new stake in shares of Corning during the 1st quarter valued at $219,000. Finally, Baer Investment Advisory LLC bought a new stake in shares of Corning during the 1st quarter worth $301,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Corning

In other news, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The transaction 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 company’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 transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by insiders.

Corning Stock Down 0.3%

Shares of NYSE GLW opened at $196.12 on Friday. Corning Incorporated has a one year low of $51.32 and a one year high of $271.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The business’s fifty day moving average price is $190.59 and its 200-day moving average price is $146.38. The stock has a market capitalization of $168.79 billion, a PE ratio of 93.84, a P/E/G ratio of 2.82 and a beta of 1.09.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share 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 company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the firm posted $0.54 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The firm 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. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Mizuho boosted their price target on shares of Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Oppenheimer lifted their price objective on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. UBS Group boosted their target price on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Finally, Morgan Stanley set a $180.00 target price on shares of Corning in a research report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $186.46.

Corning Company 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.