1,321,701 Shares in Corning Incorporated $GLW Acquired by Anther Capital Ltd

Key Points

• Anther Capital Ltd acquired 1,321,701 Corning shares worth approximately $337.6 million, making Corning 8.6% of its portfolio and its third-largest position. Institutional investors collectively own 69.8% of Corning.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $174.08, despite several recent target-price reductions.
• Corning exceeded quarterly earnings and revenue expectations, reporting $0.78 EPS and $4.74 billion in revenue, while quarterly revenue rose 17.1% year over year. The company also declared a $0.28 quarterly dividend, yielding about 0.7% annually.

Anther Capital Ltd purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,321,701 shares of the electronics maker's stock, valued at approximately $337,602,000. Corning makes up 8.6% of Anther Capital Ltd's portfolio, making the stock its 3rd largest position. Anther Capital Ltd owned about 0.15% of Corning as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of GLW. Vanguard Group Inc. increased its holdings in shares of Corning by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock valued at $8,693,247,000 after acquiring an additional 580,678 shares during the last quarter. State Street Corp increased its stake in Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after purchasing an additional 439,883 shares during the last quarter. Geode Capital Management LLC increased its stake in Corning by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock valued at $1,781,250,000 after purchasing an additional 517,067 shares during the last quarter. Capital Research Global Investors raised its holdings in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock worth $724,432,000 after purchasing an additional 1,036,988 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on GLW. Barclays dropped their target price 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 reduced their price target on shares of Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 29th. Truist Financial upgraded shares of Corning from a "hold" rating to a "buy" rating and decreased their price objective for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Oppenheimer dropped their price objective on Corning from $230.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. Finally, Mizuho cut their target price on Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, Corning has a consensus rating of "Moderate Buy" and a consensus target price of $174.08.

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the 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 completion of the sale, the chief executive officer directly owned 908,353 shares of the company's stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is owned by company insiders.

Corning Stock Up 0.0%

Shares of NYSE:GLW opened at $149.91 on Monday. The stock has a market cap of $129.13 billion, a P/E ratio of 68.45, a P/E/G ratio of 1.92 and a beta of 1.14. The firm has a fifty day moving average price of $174.83 and a 200 day moving average price of $163.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a 1-year low of $65.09 and a 1-year high of $271.78.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating 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 analyst estimates of $4.63 billion. During the same period in the previous year, the business posted $0.60 earnings per share. Corning's quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts predict that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The business 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. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio is 51.14%.

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.

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