Great Lakes Advisors LLC Takes Position in Corning Incorporated $GLW

Great Lakes Advisors LLC purchased a new position in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,094 shares of the electronics maker’s stock, valued at approximately $1,557,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Norges Bank purchased a new stake in shares of Corning during the fourth quarter valued at $921,435,000. Bank of New York Mellon Corp bought a new stake in Corning during the 2nd quarter valued at about $1,510,911,000. Capital Research Global Investors boosted its position in Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after buying an additional 5,831,873 shares during the period. Deutsche Bank AG purchased a new stake in Corning in the 2nd quarter valued at about $612,763,000. Finally, Polar Capital Holdings Plc grew its stake in Corning by 141.2% in the 3rd 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. 69.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction that occurred on 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 directly owned 908,353 shares in the company, valued at $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 is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

Corning Price Performance

Shares of GLW stock opened at $149.91 on Friday. Corning Incorporated has a 1-year low of $65.09 and a 1-year high of $271.78. The stock’s 50-day moving average is $174.83 and its 200 day moving average is $163.35. The company has a market cap of $129.13 billion, a P/E ratio of 68.45, a PEG ratio of 1.94 and a beta of 1.14. 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 (NYSE:GLW) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The company 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. The ex-dividend date of this dividend 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 is presently 51.14%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Citigroup reduced their price objective on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Oppenheimer decreased their target price on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Bank of America upped their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, Barclays cut their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

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.