B. Metzler seel. Sohn & Co. AG Invests $6.74 Million in Corning Incorporated $GLW

Key Points

• B. Metzler seel. Sohn & Co. AG acquired 26,397 Corning shares worth approximately $6.74 million in the second quarter. Institutional investors collectively own 69.8% of Corning’s outstanding stock.
• Analysts maintain a generally positive view, with 11 Buy ratings and five Holds, producing a consensus “Moderate Buy” rating and an average price target of $174.08 after several target-price reductions.
• Corning exceeded quarterly expectations with earnings of $0.78 per share and revenue of $4.74 billion, up 17.1% year over year. The company also declared a quarterly dividend of $0.28 per share, equivalent to a 0.7% annual yield.

B. Metzler seel. Sohn & Co. AG bought a new position in Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 26,397 shares of the electronics maker's stock, valued at approximately $6,743,000.

Other hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Corning in the 4th quarter valued at approximately $921,435,000. Bank of New York Mellon Corp bought a new position in shares of Corning in the second quarter worth about $1,510,911,000. Capital Research Global Investors grew its stake in Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Deutsche Bank AG purchased a new stake in shares of Corning in the 2nd quarter worth $612,763,000. Finally, Polar Capital Holdings Plc grew its position in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock worth $329,035,000 after buying an additional 2,348,125 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Analyst Ratings Changes

GLW has been the topic of a number of research reports. Oppenheimer cut their target price on shares of Corning from $230.00 to $200.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Corning from a "strong-buy" rating to a "buy" rating in a research report on Sunday, August 16th. Citigroup lowered their price target on shares of Corning from $240.00 to $220.00 and set a "buy" rating on the stock in a report on Wednesday, July 29th. Zacks Research downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Truist Financial upgraded shares of Corning from a "hold" rating to a "buy" rating and reduced their price objective for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and a consensus target price of $174.08.

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company's stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company's stock.

Corning Price Performance

Shares of GLW opened at $149.91 on Friday. Corning Incorporated has a fifty-two week low of $65.09 and a fifty-two week high of $271.78. The company has a market cap of $129.13 billion, a P/E ratio of 68.45, a PEG ratio of 1.94 and a beta of 1.14. 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's 50 day moving average price is $174.83 and its 200 day moving average price is $163.35.

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 the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm's revenue was up 17.1% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal 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. The ex-dividend date of this dividend 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 (DPR) is presently 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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