8,740 Shares in Corning Incorporated $GLW Bought by OVERSEA CHINESE BANKING Corp Ltd

Key Points

• OVERSEA CHINESE BANKING Corp Ltd purchased 8,740 Corning shares worth approximately $2.16 million during the second quarter. Several other institutions also initiated positions, and institutional investors collectively own 69.8% of Corning.
• Corning reported quarterly adjusted EPS of $0.78, beating estimates by $0.02, while revenue rose 17.1% year over year to $4.74 billion. The company guided for third-quarter EPS of $0.85–$0.89.
• Analysts maintain a “Moderate Buy” consensus rating with an average price target of $174.08; Corning also declared a quarterly dividend of $0.28 per share, representing a 0.7% annualized yield.

OVERSEA CHINESE BANKING Corp Ltd purchased a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 8,740 shares of the electronics maker's stock, valued at approximately $2,162,000.

Several other institutional investors have also bought and sold shares of GLW. Algebris UK Ltd. bought a new stake in shares of Corning in the 2nd quarter worth about $1,727,000. E Fund Management Co. Ltd. bought a new position in shares of Corning in the 2nd quarter valued at about $54,154,000. Puzo Michael J bought a new position in shares of Corning in the 2nd quarter valued at about $243,000. Geneva Partners LLC purchased a new position in Corning in the second quarter worth about $12,695,000. Finally, Madison Asset Management LLC bought a new stake in Corning during the second quarter worth approximately $348,000. Institutional investors own 69.80% of the company's stock.

Corning Price Performance

GLW opened at $151.49 on Friday. The business has a fifty day moving average of $175.43 and a 200 day moving average of $163.44. Corning Incorporated has a 52-week low of $64.33 and a 52-week 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 stock has a market cap of $130.49 billion, a P/E ratio of 69.17, a PEG ratio of 1.95 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the company posted $0.60 EPS. 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. As a group, sell-side analysts anticipate 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 issued a $0.28 dividend. The ex-dividend date 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 presently 51.14%.

Analyst Upgrades and Downgrades

GLW has been the subject of a number of analyst reports. UBS Group restated a "buy" rating and issued a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Mizuho reduced their target price on shares of Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a research note on Wednesday, July 29th. Bank of America raised their target price on shares of Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Oppenheimer dropped their price target on shares of Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on shares of Corning from $200.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $174.08.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction dated 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 transaction, the chief executive officer owned 908,353 shares of the company's stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 0.25% of the stock is owned by corporate insiders.

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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