Ninepoint Partners LP Makes New Investment in Corning Incorporated $GLW

Ninepoint Partners LP acquired a new stake in shares of Corning Incorporated (NYSE:GLW) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 7,964 shares of the electronics maker’s stock, valued at approximately $2,034,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GLW. Norges Bank bought a new stake in shares of Corning in the 4th quarter worth about $921,435,000. Bank of New York Mellon Corp bought a new position in Corning during the 2nd quarter valued at about $1,510,911,000. Capital Research Global Investors lifted its holdings in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares during the last quarter. Deutsche Bank AG acquired a new position in Corning in the second quarter valued at about $612,763,000. Finally, Polar Capital Holdings Plc grew its stake in Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after buying an additional 2,348,125 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Down 0.6%

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 current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $175.43 and a two-hundred day moving average price of $163.44.

Corning (NYSE:GLW) last announced its 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 net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the business earned $0.60 earnings per share. Corning’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued 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 yield of 0.7%. Corning’s dividend payout ratio is currently 51.14%.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and dropped their price objective for the stock from $205.00 to $175.00 in a report on Sunday, August 2nd. Barclays reduced their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Oppenheimer dropped their price target on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price 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.