Czech National Bank lifted its position in Corning Incorporated (NYSE:GLW – Free Report) by 4.8% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 222,923 shares of the electronics maker’s stock after purchasing an additional 10,294 shares during the quarter. Czech National Bank’s holdings in Corning were worth $56,941,000 at the end of the most recent quarter.
Other institutional investors have also recently modified their holdings of the company. Norges Bank bought a new stake in Corning in the 4th quarter worth approximately $921,435,000. Capital Research Global Investors grew its position in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares during the last quarter. Polar Capital Holdings Plc raised its stake in shares of 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 acquiring an additional 2,348,125 shares in the last quarter. Arrowstreet Capital Limited Partnership raised its stake in shares of Corning by 102.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after acquiring an additional 2,304,676 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. bought a new stake in shares of Corning in the 4th quarter worth approximately $185,312,000. 69.80% of the stock is currently owned by institutional investors.
Analyst Upgrades and Downgrades
A number of brokerages have recently issued reports on GLW. Susquehanna upped their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. UBS Group restated a “buy” rating and set a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. JPMorgan Chase & Co. reduced their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Barclays decreased their price objective on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, Mizuho dropped their target price on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Ten equities research 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, Corning currently has an average rating of “Moderate Buy” and an average price target of $174.08.
Corning Stock Performance
Shares of NYSE:GLW opened at $157.45 on Friday. 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 company has a 50-day moving average price of $180.04 and a 200-day moving average price of $159.02. The company has a market cap of $135.63 billion, a price-to-earnings ratio of 71.90, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. Corning Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78.
Corning (NYSE:GLW – Get Free Report) last posted its earnings results 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. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same period last year, the firm 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 EPS for the current year.
Corning Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.
Insider Activity
In related news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on 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 in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by insiders.
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.
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