Corning Incorporated $GLW Shares Purchased by Ardmore Road Asset Management LP

Ardmore Road Asset Management LP raised its stake in Corning Incorporated (NYSE:GLW - Free Report) by 137.8% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 600,000 shares of the electronics maker's stock after purchasing an additional 347,648 shares during the period. Corning accounts for about 5.4% of Ardmore Road Asset Management LP's holdings, making the stock its biggest position. Ardmore Road Asset Management LP owned 0.07% of Corning worth $81,582,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLW. Berbice Capital Management LLC purchased a new position in shares of Corning during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new stake in Corning in the 4th quarter valued at $26,000. MBM Wealth Consultants LLC acquired a new stake in Corning during the 1st quarter worth $42,000. Kemnay Advisory Services Inc. acquired a new stake in Corning during the 4th quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in Corning during the 4th quarter worth $31,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Citigroup upped their target price on shares of Corning from $225.00 to $240.00 and gave the company a "buy" rating in a report on Monday, July 13th. Zacks Research lowered Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Oppenheimer boosted their price target on Corning from $210.00 to $230.00 and gave the company an "outperform" rating in a research report on Tuesday, July 7th. Weiss Ratings downgraded Corning from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Friday. Finally, Bank of America increased their price objective on Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a research report on Monday, July 6th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $194.69.

Insider Transactions at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares of the company's stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last three months. Insiders own 0.25% of the company's stock.

Corning Trading Down 0.1%

NYSE GLW opened at $146.57 on Monday. The stock has a market capitalization of $126.14 billion, a P/E ratio of 70.13, a P/E/G ratio of 1.93 and a beta of 1.09. Corning Incorporated has a 52-week low of $54.89 and a 52-week high of $271.78. The firm has a 50-day moving average price of $188.01 and a 200 day moving average price of $155.61. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm's revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts expect that Corning Incorporated will post 3.18 EPS for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning's dividend payout ratio is currently 53.59%.

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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