NFJ Investment Group LLC Invests $15.58 Million in Corning Incorporated $GLW

NFJ Investment Group LLC acquired a new stake in Corning Incorporated (NYSE:GLW) in the second quarter, Holdings Channel reports. The institutional investor acquired 61,010 shares of the electronics maker’s stock, valued at approximately $15,584,000.

Other large investors also recently added to or reduced their stakes in the company. Berbice Capital Management LLC bought a new stake in Corning in the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new position in shares of Corning during the fourth quarter valued at about $26,000. Atwood & Palmer Inc. bought a new position in shares of Corning during the second quarter valued at about $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Corning in the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in shares of Corning in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Down 0.6%

NYSE GLW opened at $151.49 on Friday. Corning Incorporated has a 1 year low of $64.33 and a 1 year high of $271.78. The stock has a market capitalization of $130.49 billion, a PE ratio of 69.17, a PEG ratio of 1.95 and a beta of 1.14. 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 business’s 50-day moving average is $175.43 and its 200 day moving average is $163.44.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating 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 during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the company posted $0.60 EPS. Corning’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. Sell-side analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s payout ratio is 51.14%.

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction that occurred on 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 $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on GLW. Barclays dropped their target price 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 price objective on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Truist Financial raised Corning from a “hold” rating to a “buy” rating and dropped their price objective for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Morgan Stanley cut their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Company 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.