Jennison Associates LLC Buys 95,769 Shares of Corning Incorporated $GLW

Jennison Associates LLC grew its stake in Corning Incorporated (NYSE:GLW) by 40.3% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 333,272 shares of the electronics maker’s stock after purchasing an additional 95,769 shares during the period. Jennison Associates LLC’s holdings in Corning were worth $45,315,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLW. Berbice Capital Management LLC purchased a new position in Corning during the fourth quarter worth $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning in the fourth quarter valued at $26,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Corning in the fourth quarter valued at $27,000. Litman Gregory Wealth Management LLC bought a new stake in shares of Corning in the 4th quarter worth about $31,000. Finally, Evolution Wealth Management Inc. lifted its holdings in shares of Corning by 58.8% in the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 141 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on GLW. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a research note on Saturday. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Citigroup increased their price target on Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Monday, July 13th. Finally, Barclays boosted their price objective on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.69.

Corning Stock Down 1.1%

Shares of NYSE GLW opened at $152.97 on Tuesday. Corning Incorporated has a 52-week low of $53.29 and a 52-week high of $271.78. The firm has a market capitalization of $131.65 billion, a price-to-earnings ratio of 73.19, a PEG ratio of 2.03 and a beta of 1.09. The stock has a 50 day moving average price of $191.73 and a 200 day moving average price of $153.75. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The company 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%.Corning’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts expect that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Dividend Announcement

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

Insider Transactions at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.