Meeder Asset Management Inc. acquired a new position in shares of Corning Incorporated (NYSE:GLW – Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,772 shares of the electronics maker’s stock, valued at approximately $1,730,000.
Several other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC lifted its stake in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new stake in shares of Corning during the 1st quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Corning in the second quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in Corning in the second quarter valued at about $266,000. 69.80% of the stock is owned by institutional investors.
Corning Stock Down 7.7%
Shares of NYSE GLW opened at $159.88 on Wednesday. The company has a 50 day simple moving average of $176.26 and a 200 day simple moving average of $162.76. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a 1 year low of $63.37 and a 1 year high of $271.78. The firm has a market cap of $137.72 billion, a PE ratio of 73.00, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14.
Corning Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.
Insider Activity
In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated 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 transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction dated 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 completion of the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by insiders.
Corning News Summary
Here are the key news stories impacting Corning this week:
- Positive Sentiment: Corning’s portfolio of Gorilla Glass, advanced display glass and specialty materials gives it exposure to ongoing demand for smartphones, displays, data centers and other technology applications. Can Corning’s Next-Generation Glass Innovations Propel Its Shares?
- Positive Sentiment: An investor letter from The London Company highlighted improving demand at Corning, with AI infrastructure spending supporting the broader technology and optical-components markets. Corning’s latest reported quarter also showed strong momentum, including 17.1% year-over-year revenue growth and earnings above analysts’ expectations. Improving Demand Strengthens Corning (GLW)
- Neutral Sentiment: CEO Wendell Weeks said Corning’s ability to limit tariff exposure depends on strategic supply-chain and production decisions. This may help reassure investors, although tariffs remain a potential cost and margin risk. Corning’s Tariff Immunity Comes Down to One Strategic Choice, CEO Says
- Negative Sentiment: Optics stocks sold off broadly after the Anthropic-related news and WSJ report intensified concern about AI-hardware demand and risk exposure. The sector-wide move weighed on Corning despite its company-specific growth drivers. Optics Stocks Drop on Anthropic News
- Negative Sentiment: Analysts caution that much of Corning’s AI-related success may already be priced into the stock. Its large multiyear gain and elevated earnings-based valuation increase the risk of profit-taking if growth expectations or technology spending weaken. Corning: Strong AI Growth, But Much Success Is Already Priced In
Analyst Ratings Changes
Several research analysts have commented on GLW shares. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Mizuho decreased their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. JPMorgan Chase & Co. dropped their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Finally, Barclays cut their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $174.08.
Get Our Latest 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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