AXQ Capital LP Acquires New Shares in Corning Incorporated $GLW

Key Points

• AXQ Capital LP opened a new position in Corning during the fourth quarter, buying 6,304 shares valued at about $552,000.
• Corning reported better-than-expected first-quarter earnings, with EPS of $0.70 versus the $0.69 estimate and revenue of $4.35 billion, up 18.1% year over year.
• Analysts remain mostly positive on the stock, with 10 Buy ratings and 6 Hold ratings; the consensus target price is $177.92, while the shares recently traded above $200.

AXQ Capital LP acquired a new position in Corning Incorporated (NYSE:GLW - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,304 shares of the electronics maker's stock, valued at approximately $552,000.

Several other hedge funds have also recently bought and sold shares of the business. Berbice Capital Management LLC acquired a new stake in shares of Corning in the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning during the 4th quarter worth $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning in the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new position in Corning in the 3rd quarter valued at $27,000. Finally, Cornerstone Planning Group LLC raised its holdings in Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock worth $30,000 after acquiring an additional 124 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

GLW has been the subject of a number of recent analyst reports. Susquehanna upped their price target on shares of Corning from $125.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. Wall Street Zen upgraded Corning from a "hold" rating to a "buy" rating in a research note on Sunday, May 17th. HSBC reissued a "buy" rating and set a $135.00 price objective on shares of Corning in a research report on Friday, February 13th. Zacks Research lowered Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Finally, Citigroup lifted their price target on Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and a consensus target price of $177.92.

Corning Price Performance

Shares of NYSE:GLW opened at $201.40 on Thursday. The firm has a market capitalization of $173.33 billion, a PE ratio of 96.36, a PEG ratio of 2.87 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1-year low of $49.47 and a 1-year high of $211.79. The business's 50 day moving average is $171.25 and its 200-day moving average is $129.11.

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

Corning Announces Dividend

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

Insider Buying and Selling at Corning

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the 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 transaction, the senior vice president directly owned 25,570 shares in the company, valued at $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 SEC, which can be accessed through this link. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares of the company's stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 60,655 shares of company stock worth $12,046,561. 0.25% of the stock is currently 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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