Corning Incorporated $GLW Stock Position Raised by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. increased its stake in Corning Incorporated (NYSE:GLW) by 9.5% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 128,755 shares of the electronics maker’s stock after acquiring an additional 11,201 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Corning were worth $32,921,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Berbice Capital Management LLC purchased a new position in Corning in the 4th quarter worth about $26,000. Basepoint Wealth LLC purchased a new stake in Corning during the fourth quarter valued at about $26,000. Atwood & Palmer Inc. purchased a new stake in Corning during the second quarter valued at about $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning in the fourth quarter worth about $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in shares of Corning in the fourth quarter worth about $31,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Price Performance

Shares of GLW opened at $148.87 on Friday. The company has a market capitalization of $128.24 billion, a price-to-earnings ratio of 67.98, a P/E/G ratio of 1.96 and a beta of 1.14. Corning Incorporated has a fifty-two week low of $66.14 and a fifty-two week high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The business’s 50-day moving average is $171.18 and its 200-day moving average is $164.60.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (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 analyst estimates 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning’s dividend payout ratio is presently 51.14%.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GLW has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. cut their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Barclays lowered their price objective 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. Morgan Stanley cut their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and reduced their target price for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Corning 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.