Altshuler Shaham Ltd Invests $845,000 in Corning Incorporated $GLW

Key Points

• Altshuler Shaham Ltd opened a new position in Corning during the fourth quarter, buying 9,652 shares valued at about $845,000.
• Corning continues to attract major institutional interest, with several large investors recently adding to or starting stakes in the company; hedge funds and other institutions now own about 69.8% of the stock.
• Analyst sentiment remains generally positive, with an average rating of “Moderate Buy” and a consensus price target of $178.31, while Corning also reported earnings and revenue that beat expectations and raised its quarterly dividend.

Altshuler Shaham Ltd bought a new position in Corning Incorporated (NYSE:GLW - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 9,652 shares of the electronics maker's stock, valued at approximately $845,000.

A number of other institutional investors have also recently modified their holdings of GLW. Capital Research Global Investors purchased a new stake in shares of Corning in the third quarter worth $907,164,000. Norges Bank purchased a new stake in shares of Corning in the fourth quarter worth $921,435,000. Wellington Management Group LLP grew its stake in shares of Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares during the last quarter. Polar Capital Holdings Plc grew its stake in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock worth $329,035,000 after acquiring an additional 2,348,125 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership grew its stake in shares of Corning by 102.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker's stock worth $399,505,000 after acquiring an additional 2,304,676 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GLW. JPMorgan Chase & Co. increased their target price on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday, May 7th. Weiss Ratings reissued a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Citigroup increased their target price on Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Barclays increased their target price on Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a research note on Friday, May 8th. Finally, Wall Street Zen downgraded Corning from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $178.31.

Corning Trading Down 1.4%

Shares of NYSE:GLW opened at $174.98 on Thursday. The company has a market cap of $150.59 billion, a P/E ratio of 83.72, a PEG ratio of 2.54 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a 1 year low of $49.97 and a 1 year high of $211.79. The stock's fifty day moving average price is $179.09 and its 200-day moving average price is $136.06.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The company had revenue of $4.35 billion during the quarter, compared to analysts' expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning's revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's dividend payout ratio is 53.59%.

Insider Activity at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the company's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the sale, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company's stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock valued at $30,692,561 in the last 90 days. 0.25% of the stock is owned by company insiders.

About Corning

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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