6,783 Shares in Corning Incorporated $GLW Bought by Algebris UK Ltd.

Key Points

• Algebris UK Ltd. bought 6,783 Corning shares worth approximately $1.73 million in the second quarter. Other institutions also initiated positions, with institutional investors collectively owning 69.8% of GLW.
• Analyst sentiment remains positive overall: 11 analysts rate Corning a Buy and five rate it Hold, producing a “Moderate Buy” consensus rating and an average price target of $174.08.
• Corning reported quarterly EPS of $0.78 and revenue of $4.74 billion, exceeding estimates, while guiding for third-quarter EPS of $0.85–$0.89. The company also declared a quarterly dividend of $0.28 per share.

Algebris UK Ltd. purchased a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 6,783 shares of the electronics maker's stock, valued at approximately $1,727,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. E Fund Management Co. Ltd. bought a new position in Corning in the 2nd quarter valued at about $54,154,000. Puzo Michael J bought a new stake in shares of Corning during the 2nd quarter worth approximately $243,000. Geneva Partners LLC bought a new stake in shares of Corning during the 2nd quarter worth approximately $12,695,000. Madison Asset Management LLC acquired a new stake in shares of Corning during the 2nd quarter worth approximately $348,000. Finally, Csenge Advisory Group acquired a new stake in shares of Corning during the 2nd quarter worth approximately $941,000. Institutional investors own 69.80% of the company's stock.

Analyst Upgrades and Downgrades

GLW has been the subject of several research analyst reports. Weiss Ratings upgraded shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 7th. Bank of America raised their target price on Corning from $223.00 to $243.00 and gave the company a "buy" rating in a report on Monday, July 6th. Morgan Stanley decreased their price target on Corning from $180.00 to $165.00 and set an "equal weight" rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen cut Corning from a "strong-buy" rating to a "buy" rating in a report on Sunday. Finally, Truist Financial upgraded Corning from a "hold" rating to a "buy" rating and dropped their price objective for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $174.08.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jaymin Amin sold 27,395 shares of the firm's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares of the company's stock, valued at $18,138,016. The trade was a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by company insiders.

Corning Trading Down 4.6%

NYSE GLW opened at $152.52 on Thursday. The company has a market cap of $131.38 billion, a price-to-earnings ratio of 69.64, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14. Corning Incorporated has a twelve month low of $63.37 and a twelve month high of $271.78. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The business's fifty day moving average is $175.94 and its 200 day moving average is $163.10.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, sell-side analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio (DPR) 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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