OP Asset Management Ltd Invests $19.30 Million in Corning Incorporated $GLW

OP Asset Management Ltd acquired a new stake in Corning Incorporated (NYSE:GLW) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 141,968 shares of the electronics maker’s stock, valued at approximately $19,303,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Corning by 46.0% in 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 stake in shares of Corning in the 1st quarter valued at about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in 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 purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Corning in the 2nd quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. bought a new position in Corning during the second quarter worth about $266,000. 69.80% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have weighed in on GLW. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Mizuho lifted their target price on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Oppenheimer boosted their target price on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Morgan Stanley set a $180.00 price target on Corning in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $182.62.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The shares were 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 in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s 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 directly owned 10,174 shares of the company’s stock, valued at $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. In the last ninety days, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by insiders.

Corning Trading Up 6.1%

Shares of NYSE:GLW opened at $205.91 on Thursday. Corning Incorporated has a 12-month low of $51.09 and a 12-month high of $217.09. The business has a 50 day moving average of $182.50 and a 200-day moving average of $140.14. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market cap of $177.21 billion, a PE ratio of 98.52, a P/E/G ratio of 2.78 and a beta of 1.15.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

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.