Formuepleje A S Purchases New Stake in Corning Incorporated $GLW

Formuepleje A S purchased a new stake in shares of Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 6,955 shares of the electronics maker’s stock, valued at approximately $1,777,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in GLW. Berbice Capital Management LLC acquired a new position in shares of Corning in the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning during the 4th quarter worth about $26,000. Atwood & Palmer Inc. bought a new stake in shares of Corning during the 2nd quarter worth about $26,000. Rogco LP bought a new stake in shares of Corning during the 2nd quarter worth about $27,000. Finally, Kemnay Advisory Services Inc. acquired a new position in Corning in the 4th quarter valued at about $27,000. 69.80% of the stock is owned by institutional investors.

Insider Buying and Selling at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares of the company’s stock, valued at $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell Weeks sold 100,000 shares of the company’s 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 sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

Several research firms have weighed in on GLW. Weiss Ratings cut shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Barclays reduced their price objective on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Mizuho lowered their target price on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Citigroup dropped their price target on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Finally, UBS Group restated a “buy” rating and issued a $196.00 price target on shares of Corning in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Down 0.1%

NYSE GLW opened at $154.22 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. Corning Incorporated has a 1-year low of $70.06 and a 1-year high of $271.78. The company has a 50 day moving average of $164.74 and a 200-day moving average of $165.39. The company has a market cap of $132.84 billion, a price-to-earnings ratio of 70.42, a PEG ratio of 1.98 and a beta of 1.16.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the business posted $0.60 earnings per share. The firm’s quarterly 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, equities research analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Corning 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.