Varma Mutual Pension Insurance Co Acquires New Shares in Corning Incorporated $GLW

Varma Mutual Pension Insurance Co acquired a new position in Corning Incorporated (NYSE:GLW) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 141,132 shares of the electronics maker’s stock, valued at approximately $36,049,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLW. Norges Bank purchased a new stake in shares of Corning in the 4th quarter worth approximately $921,435,000. Bank of New York Mellon Corp purchased a new position in Corning during the second quarter valued at approximately $1,510,911,000. Capital Research Global Investors raised its stake in Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares in the last quarter. Deutsche Bank AG bought a new position in Corning in the second quarter worth approximately $612,763,000. Finally, Polar Capital Holdings Plc lifted its holdings 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 period. 69.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several brokerages have issued reports on GLW. Citigroup dropped their target price on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Bank of America boosted their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “buy” rating in a research report on Sunday, August 16th. JPMorgan Chase & Co. cut their target price on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Price Performance

NYSE GLW opened at $149.91 on Friday. The firm’s fifty day simple moving average is $174.83 and its two-hundred day simple moving average is $163.35. The firm has a market capitalization of $129.13 billion, a P/E ratio of 68.45, a P/E/G ratio of 1.92 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. Corning Incorporated has a 12-month low of $65.09 and a 12-month high of $271.78.

Corning (NYSE:GLW) last issued its quarterly earnings data 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 firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid 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 0.7%. Corning’s dividend payout ratio (DPR) is 51.14%.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade 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 can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

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.