Ancora Advisors LLC Takes $3.40 Million Position in Corning Incorporated $GLW

Key Points

• Ancora Advisors acquired 13,294 Corning shares worth approximately $3.40 million during the second quarter. Institutional investors collectively own 69.8% of Corning’s outstanding stock.
• Corning reported quarterly earnings of $0.78 per share, topping 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 consensus “Moderate Buy” rating with a $174.08 target price, although several firms recently lowered their targets. Corning also declared a quarterly dividend of $0.28 per share, representing a 0.7% yield.

Ancora Advisors LLC purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 13,294 shares of the electronics maker's stock, valued at approximately $3,396,000.

Other hedge funds have also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock worth $3,035,836,000 after buying an additional 439,883 shares during the last quarter. Geode Capital Management LLC lifted its position in Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock valued at $1,781,250,000 after acquiring an additional 517,067 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after buying an additional 5,831,873 shares in the last quarter. Ameriprise Financial Inc. boosted its stake in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock worth $724,432,000 after buying an additional 1,036,988 shares during the last quarter. Finally, Norges Bank bought a new position in shares of Corning in the fourth quarter valued at approximately $921,435,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Price Performance

Shares of NYSE:GLW opened at $152.76 on Thursday. 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 firm has a market capitalization of $131.59 billion, a PE ratio of 69.75, a P/E/G ratio of 1.88 and a beta of 1.14. Corning Incorporated has a twelve month low of $66.14 and a twelve month high of $271.78. The company has a 50-day moving average price of $172.96 and a two-hundred day moving average price of $164.50.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results 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 analysts' expectations of $4.63 billion. During the same period in the prior year, the company posted $0.60 EPS. Corning's revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning's payout ratio is presently 51.14%.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction dated Tuesday, June 9th. The stock was 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 owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on GLW shares. Mizuho lowered their target price on Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a research note 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. Zacks Research downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Weiss Ratings lowered shares of Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Friday, August 21st. Finally, Susquehanna boosted their target price 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. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the company currently 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.

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