Corning Incorporated $GLW Shares Purchased by Capstone Capital Management Ltd

Capstone Capital Management Ltd raised its position in shares of Corning Incorporated (NYSE:GLW) by 340.5% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 38,552 shares of the electronics maker’s stock after purchasing an additional 29,801 shares during the quarter. Corning accounts for about 2.4% of Capstone Capital Management Ltd’s investment portfolio, making the stock its 6th biggest holding. Capstone Capital Management Ltd’s holdings in Corning were worth $5,928,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GLW. Western Pacific Wealth Management LP purchased a new position in shares of Corning during the third quarter valued at approximately $25,000. Atwood & Palmer Inc. bought a new position in Corning in the second quarter worth approximately $26,000. Rogco LP bought a new position in Corning in the 2nd quarter worth $27,000. Toth Financial Advisory Corp grew its holdings in Corning by 130.7% during the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 98 shares during the period. Finally, Quintet Private Bank Europe S.A. raised its stake in shares of Corning by 220.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 240 shares of the electronics maker’s stock worth $37,000 after buying an additional 165 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. The Goldman Sachs Group reiterated an “outperform” rating on shares of Corning in a research report on Tuesday, September 15th. UBS Group lifted their price objective on shares of Corning from $196.00 to $201.00 and gave the company a “buy” rating in a research report on Monday, October 5th. Morgan Stanley reduced their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Finally, Bank of America dropped their price target on Corning from $243.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $177.56.

Insider Buying and Selling at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 0.25% of the stock is owned by insiders.

Corning Price Performance

GLW stock opened at $132.16 on Wednesday. The stock has a market cap of $113.84 billion, a PE ratio of 60.35, a P/E/G ratio of 1.69 and a beta of 1.13. Corning Incorporated has a 12 month low of $77.39 and a 12 month high of $271.78. The company has a 50-day moving average price of $153.14 and a 200 day moving average price of $168.85. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%. Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts anticipate that Corning Incorporated will post 3.29 earnings per share for the current year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s dividend payout ratio is presently 51.14%.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.