Meeder Asset Management Inc. Increases Position in Corning Incorporated $GLW

Meeder Asset Management Inc. lifted its stake in Corning Incorporated (NYSE:GLW) by 14.3% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 43,852 shares of the electronics maker’s stock after acquiring an additional 5,502 shares during the period. Meeder Asset Management Inc.’s holdings in Corning were worth $5,963,000 at the end of the most recent quarter.

Other institutional investors also recently added to or reduced their stakes in the company. Berbice Capital Management LLC purchased a new position in Corning in the fourth quarter valued at about $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the 4th quarter valued at about $26,000. MBM Wealth Consultants LLC bought a new stake in shares of Corning in the 1st quarter valued at about $42,000. Kemnay Advisory Services Inc. purchased a new position in shares of Corning in the 4th quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in shares of Corning during the 4th quarter worth approximately $31,000. Institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

GLW has been the subject of a number of analyst reports. Mizuho increased their target price on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. JPMorgan Chase & Co. increased their price objective on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Truist Financial boosted their target price on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. UBS Group set a $243.00 target price on Corning in a research report on Monday, July 6th. Finally, Citigroup increased their price target on Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Trading Down 0.1%

NYSE GLW opened at $154.47 on Monday. Corning Incorporated has a 12-month low of $53.29 and a 12-month high of $271.78. The company has a fifty day simple moving average of $192.81 and a two-hundred day simple moving average of $153.30. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a market cap of $132.94 billion, a P/E ratio of 73.91, a P/E/G ratio of 2.03 and a beta of 1.09.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s dividend payout ratio is currently 53.59%.

Insiders Place Their Bets

In related news, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 160,655 shares of company stock valued at $30,692,560. Insiders own 0.25% of the company’s stock.

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.