Bridgewater Advisors Inc. Buys New Position in Corning Incorporated $GLW

Bridgewater Advisors Inc. acquired a new position in shares of Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,604 shares of the electronics maker’s stock, valued at approximately $963,000.

Other large investors also recently modified their holdings of the company. SFE Investment Counsel acquired a new position in shares of Corning during the 2nd quarter valued at $4,779,000. Trust Asset Management LLC increased its holdings in shares of Corning by 1.0% during the second quarter. Trust Asset Management LLC now owns 8,648 shares of the electronics maker’s stock valued at $2,209,000 after acquiring an additional 85 shares in the last quarter. First Community Trust NA bought a new position in shares of Corning in the 2nd quarter worth $72,000. Regent Peak Wealth Advisors LLC lifted its stake in shares of Corning by 2.0% in the second quarter. Regent Peak Wealth Advisors LLC now owns 3,569 shares of the electronics maker’s stock valued at $912,000 after buying an additional 70 shares in the last quarter. Finally, Annex Advisory Services LLC bought a new position in Corning in the 2nd quarter valued at about $284,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insiders Place Their Bets

In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their position. The SEC filing for this sale provides additional information. 0.25% of the stock is owned by corporate insiders.

Corning Stock Up 4.6%

Corning stock opened at $165.85 on Friday. The firm has a 50 day moving average price of $176.82 and a 200-day moving average price of $161.45. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Corning Incorporated has a twelve month low of $63.37 and a twelve month high of $271.78. The company has a market capitalization of $142.86 billion, a P/E ratio of 75.73, a P/E/G ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW) last posted its quarterly 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. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same quarter in the previous year, the firm posted $0.60 EPS. Corning’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts predict that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s payout ratio is presently 51.14%.

Analyst Ratings Changes

Several equities research analysts recently issued reports on the company. Bank of America upped their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Barclays dropped their price target 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. Susquehanna increased their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Finally, Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Company 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.