Corient Private Wealth LP Acquires Shares of 277,999 Corning Incorporated $GLW

Corient Private Wealth LP acquired a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund acquired 277,999 shares of the electronics maker's stock, valued at approximately $71,015,000.

Other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Corning during the fourth quarter worth approximately $921,435,000. Bank of New York Mellon Corp bought a new stake in shares of Corning in the second quarter worth $1,510,911,000. Capital Research Global Investors raised its holdings 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 valued at $1,478,959,000 after acquiring an additional 5,831,873 shares in the last quarter. Legal & General Group Plc acquired a new stake in Corning in the second quarter valued at $1,212,283,000. Finally, Bank of America Corp DE boosted its stake in Corning by 29.2% during the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker's stock valued at $4,784,361,000 after acquiring an additional 4,231,507 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Stock Up 3.8%

Shares of NYSE:GLW opened at $152.76 on Thursday. The company's fifty day moving average is $172.96 and its two-hundred day moving average is $164.50. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 1-year low of $66.14 and a 1-year high of $271.78. The stock has a market capitalization of $131.59 billion, a price-to-earnings ratio of 69.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last posted 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 business had revenue of $4.74 billion during 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 company's quarterly revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities 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 given 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 dividend payout ratio is presently 51.14%.

Analysts Set New Price Targets

Several research analysts have weighed in on the stock. Mizuho decreased their price objective on shares of Corning from $270.00 to $210.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. UBS Group restated a "buy" rating and issued a $196.00 target price on shares of Corning 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 on the stock in a research report on Wednesday, July 29th. Wall Street Zen downgraded Corning from a "buy" rating to a "hold" rating in a research note on Monday. Finally, Oppenheimer lowered their price objective on Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Corning currently has a consensus rating of "Moderate Buy" and an average price target of $174.08.

Insider Activity

In related news, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction that occurred on 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 sale, the chief executive officer owned 908,353 shares of the company's stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company's stock.

Corning 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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