Czech National Bank Purchases 10,294 Shares of Corning Incorporated $GLW

Czech National Bank grew its position in shares of Corning Incorporated (NYSE:GLW) by 4.8% during the second quarter, Holdings Channel reports. The fund owned 222,923 shares of the electronics maker’s stock after purchasing an additional 10,294 shares during the period. Czech National Bank’s holdings in Corning were worth $56,941,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Berbice Capital Management LLC purchased a new stake in Corning in the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new position in Corning in the fourth quarter worth $26,000. Kemnay Advisory Services Inc. purchased a new position in Corning during the fourth quarter valued at $27,000. Litman Gregory Wealth Management LLC purchased a new position in Corning during the fourth quarter valued at $31,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Corning during the 3rd quarter valued at $33,000. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on GLW. Morgan Stanley reduced their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Citigroup cut their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and lowered their target price for the company from $205.00 to $175.00 in a report on Sunday. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, July 24th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Up 0.5%

Shares of GLW stock opened at $157.45 on Friday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78. The stock has a market cap of $135.63 billion, a P/E ratio of 71.90, a P/E/G ratio of 2.01 and a beta of 1.14. The company has a 50 day simple moving average of $180.04 and a two-hundred day simple moving average of $159.02.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter last year, the company posted $0.60 EPS. The company’s revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts expect that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s payout ratio is 51.14%.

Insider Buying and Selling

In other Corning news, VP John Z. Zhang sold 10,000 shares of the firm’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 transaction of $1,983,400.00. Following the sale, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.