Corning Incorporated $GLW Stock: NFSG Corp Increases Stake

NFSG Corp increased its position in Corning Incorporated (NYSE:GLW) by 378.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,828 shares of the electronics maker’s stock after acquiring an additional 28,336 shares during the quarter. NFSG Corp’s holdings in Corning were worth $5,509,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. State Street Corp boosted its holdings in Corning by 13.4% during the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock valued at $10,500,315,000 after acquiring an additional 4,845,027 shares during the period. Bank of America Corp DE grew its position in shares of Corning by 29.2% in the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after purchasing an additional 4,231,507 shares during the last quarter. Wellington Management Group LLP increased its stake in shares of Corning by 50.9% in the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after purchasing an additional 4,446,514 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Corning in the second quarter worth about $1,510,911,000. Finally, Legal & General Group Plc bought a new position in shares of Corning in the second quarter worth about $1,212,283,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Transactions at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction that occurred on 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. This represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GLW shares. Barclays cut their price objective on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Morgan Stanley lowered their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Oppenheimer dropped their price target on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Bank of America cut their price target on Corning from $243.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $177.56.

Corning Stock Performance

NYSE GLW opened at $138.31 on Friday. 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 firm has a market capitalization of $119.14 billion, a price-to-earnings ratio of 63.16, a P/E/G ratio of 1.80 and a beta of 1.13. The company’s fifty day moving average is $154.85 and its two-hundred day moving average is $168.92. Corning Incorporated has a 52-week low of $77.39 and a 52-week high of $271.78.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business’s revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts forecast that Corning Incorporated will post 3.28 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, November 13th. Corning’s payout ratio is currently 51.14%.

Corning Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.