Corning Incorporated $GLW Shares Bought by Principal Financial Group Inc.

Key Points

• Principal Financial Group increased its Corning stake by 1.8% in the fourth quarter, buying 15,456 additional shares and bringing its total holding to 882,860 shares worth about $77.3 million.
• Corning reported better-than-expected first-quarter results, with EPS of $0.70 and revenue of $4.35 billion, both slightly above analyst estimates and up 18.1% year over year.
• Analysts remain constructive on the stock, with several firms raising price targets after Corning’s recent results and the company’s quarterly dividend set at $0.28 per share, payable June 29.

Principal Financial Group Inc. increased its position in Corning Incorporated (NYSE:GLW - Free Report) by 1.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 882,860 shares of the electronics maker's stock after acquiring an additional 15,456 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of Corning worth $77,303,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of GLW. Capital Research Global Investors bought a new position in Corning in the 3rd quarter worth about $907,164,000. WCM Investment Management LLC acquired a new position in shares of Corning during the third quarter worth approximately $676,931,000. Wellington Management Group LLP grew its holdings in Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after buying an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc increased its position in Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock valued at $329,035,000 after acquiring an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Corning during the 3rd quarter valued at $185,221,000. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Performance

NYSE:GLW opened at $182.71 on Friday. The company has a 50-day moving average of $150.46 and a 200-day moving average of $115.11. The firm has a market cap of $157.24 billion, a price-to-earnings ratio of 87.42, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14. 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 twelve month low of $44.83 and a twelve month high of $195.81.

Corning (NYSE:GLW - Get Free Report) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the firm earned $0.54 EPS. The business's revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts forecast that Corning Incorporated will post 3.17 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders 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 dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's dividend payout ratio is 53.59%.

Analyst Ratings Changes

A number of brokerages have issued reports on GLW. Truist Financial boosted their price target on Corning from $125.00 to $149.00 and gave the stock a "hold" rating in a research report on Wednesday, April 29th. Susquehanna lifted their price objective 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. Mizuho set a $145.00 target price on shares of Corning in a research report on Monday, February 23rd. Citigroup raised their target price on shares of Corning from $175.00 to $225.00 and gave the company a "buy" rating in a research note on Thursday. Finally, UBS Group boosted their price target on shares of Corning from $179.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $166.69.

Insider Buying and Selling at Corning

In related news, COO Avery H. Nelson III sold 1,583 shares of Corning stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $128.74, for a total value of $203,795.42. Following the transaction, the chief operating officer owned 59,788 shares of the company's stock, valued at approximately $7,697,107.12. This trade represents a 2.58% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Z. Zhang sold 1,531 shares of the business's stock in a transaction dated Thursday, February 12th. The stock was sold at an average price of $133.75, for a total value of $204,771.25. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 177,256 shares of company stock worth $26,541,572. 0.25% of the stock is owned by insiders.

Key Headlines Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Nvidia committed several billion to help fund new Corning factories and is taking an equity stake (up to ~$3.2B disclosed), meaning Corning gets near‑term capital and a large customer committed to absorbing expanded output. Nvidia funds construction of Corning plants, in addition to equity investment
• Positive Sentiment: Multiyear commercial and technology partnership (including a reported $500M initial investment/warrant structure) will expand U.S. optical connectivity capacity — Corning says it will increase U.S. photonics capacity ~10x and build multiple new plants, locking long‑term hyperscale demand. Nvidia CEO says AI partnership with Corning will 'revitalize American manufacturing'
• Positive Sentiment: Major Wall Street firms bumped targets after the deal: Citigroup raised its PT to $225 and kept a Buy rating, and Oppenheimer lifted its PT to $210 with an Outperform — both signal higher analyst conviction on growth from photonics and Springboard upgrades. Benzinga coverage of analyst price target changes
• Neutral Sentiment: JPMorgan raised its price target modestly to $185 but kept a Neutral stance, reflecting some caution on valuation despite acknowledging the partnership’s strategic value. Benzinga coverage of JPMorgan price target change
• Neutral Sentiment: Some optics names are pulling back as the AI optics trade takes a breather — this shows sector rotation and short‑term volatility even as Corning secures large contracts. Applied Optoelectronics Crashes 14%, Coherent Slides 10%, Lumentum Falls 7 as Optics Trade Cools
• Negative Sentiment: Valuation is elevated (trailing P/E ~87 per recent data) and the rally already reflects aggressive forward revenue and margin assumptions — execution, plant build timelines and contract fulfillment are key risks that could trigger a pullback if targets slip.

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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