Wealth High Governance Capital Ltda Invests $17.63 Million in Corning Incorporated $GLW

Wealth High Governance Capital Ltda bought a new stake in Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 69,014 shares of the electronics maker’s stock, valued at approximately $17,628,000. Corning comprises 5.3% of Wealth High Governance Capital Ltda’s investment portfolio, making the stock its 2nd largest position.

A number of other large investors have also recently made changes to their positions in GLW. Norges Bank acquired a new position in Corning during the fourth quarter worth approximately $921,435,000. Bank of New York Mellon Corp acquired a new stake in shares of Corning in the second quarter valued at approximately $1,510,911,000. Capital Research Global Investors boosted its holdings in shares of Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares during the period. Deutsche Bank AG purchased a new position in shares of Corning during the second quarter worth approximately $612,763,000. Finally, Polar Capital Holdings Plc increased its holdings in shares of Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after acquiring an additional 2,348,125 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Price Performance

Shares of NYSE GLW opened at $149.91 on Monday. The stock has a fifty day moving average price of $174.83 and a 200 day moving average price of $163.72. Corning Incorporated has a 1-year low of $65.09 and a 1-year high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The company has a market cap of $129.13 billion, a PE ratio of 68.45, a P/E/G ratio of 1.92 and a beta of 1.14.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations 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 in the previous year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

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

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on the stock. Mizuho reduced their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Morgan Stanley lowered their price objective 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. UBS Group restated a “buy” rating and issued a $196.00 price objective on shares of Corning in a research note on Wednesday, July 29th. Weiss Ratings cut shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Finally, JPMorgan Chase & Co. decreased their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have given 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 $174.08.

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.