Fosun International Ltd Purchases 7,483 Shares of Corning Incorporated $GLW

Fosun International Ltd grew its position in shares of Corning Incorporated (NYSE:GLW) by 149.7% in the second quarter, according to its most recent filing with the SEC. The fund owned 12,483 shares of the electronics maker’s stock after acquiring an additional 7,483 shares during the quarter. Corning comprises approximately 0.7% of Fosun International Ltd’s holdings, making the stock its 18th largest holding. Fosun International Ltd’s holdings in Corning were worth $3,189,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GLW. Norges Bank bought a new stake in Corning in the fourth quarter worth $921,435,000. Bank of New York Mellon Corp bought a new position in Corning during the second quarter valued at $1,510,911,000. Capital Research Global Investors raised its stake 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. Legal & General Group Plc purchased a new stake in shares of Corning in the second quarter valued at $1,212,283,000. Finally, Wellington Management Group LLP lifted its holdings in shares of Corning by 50.9% in the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after acquiring an additional 4,446,514 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is currently owned by company insiders.

Corning Stock Performance

Shares of Corning stock opened at $148.87 on Monday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The firm has a market cap of $128.24 billion, a P/E ratio of 67.98, a P/E/G ratio of 1.91 and a beta of 1.14. The stock’s fifty day moving average price is $171.18 and its 200-day moving average price is $164.84. Corning Incorporated has a 12 month low of $66.14 and a 12 month high of $271.78.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. The business 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%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities research analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GLW. Oppenheimer dropped their price target on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Citigroup decreased 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. JPMorgan Chase & Co. dropped their target price on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Finally, Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target 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.