The Manufacturers Life Insurance Company Invests $102.80 Million in Corning Incorporated $GLW

The Manufacturers Life Insurance Company acquired a new stake in Corning Incorporated (NYSE:GLW) during the second quarter, HoldingsChannel.com reports. The fund acquired 402,442 shares of the electronics maker’s stock, valued at approximately $102,796,000.

Other large investors also recently modified their holdings of the company. Trajan Wealth LLC bought a new position in Corning during the second quarter worth $11,718,000. Van Hulzen Asset Management LLC bought a new stake in Corning during the second quarter valued at $391,000. Front Street Capital Management Inc. bought a new stake in Corning during the second quarter valued at $35,948,000. SurgoCap Partners LP acquired a new stake in Corning during the 2nd quarter worth about $203,624,000. Finally, Peak Asset Management LLC acquired a new stake in Corning during the 2nd quarter worth about $1,559,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the company. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research note on Monday. Mizuho decreased their target price on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Oppenheimer lowered their target price on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Morgan Stanley dropped their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and cut their price target for the stock from $205.00 to $175.00 in a report on Sunday, August 2nd. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus price target of $174.08.

Corning Stock Performance

Shares of GLW stock opened at $147.45 on Wednesday. The firm has a market capitalization of $127.01 billion, a PE ratio of 67.33, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14. The firm has a fifty day simple moving average of $173.41 and a two-hundred day simple moving average of $164.22. 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 $66.14 and a 12 month high of $271.78.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for 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%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is currently 51.14%.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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.