QRG Capital Management Inc. grew its holdings in shares of Corning Incorporated (NYSE:GLW – Free Report) by 58.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 112,932 shares of the electronics maker’s stock after buying an additional 41,785 shares during the period. QRG Capital Management Inc.’s holdings in Corning were worth $15,355,000 as of its most recent filing with the SEC.
Other large investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after acquiring an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. bought a new position in shares of Corning during the 1st quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares during the period. Sivia Capital Partners LLC acquired a new stake in shares of Corning in the 2nd quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in Corning in the 2nd quarter valued at about $266,000. Institutional investors and hedge funds own 69.80% of the company’s stock.
Insiders Place Their Bets
In other news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 in the last three months. 0.25% of the stock is owned by corporate insiders.
Corning Price Performance
Corning (NYSE:GLW – Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the company posted $0.54 EPS. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.
Corning Dividend Announcement
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning’s dividend payout ratio is 53.59%.
Wall Street Analyst Weigh In
GLW has been the topic of several recent research reports. Citigroup increased their price target on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. UBS Group boosted their price objective on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Mizuho upped their target price on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research report on Wednesday. Bank of America increased their target price on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Barclays lifted their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $186.46.
Check Out Our Latest Stock Analysis on Corning
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.
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