Formuepleje A S Takes $1.78 Million Position in Corning Incorporated $GLW

Key Points

• Formuepleje A S acquired 6,955 shares of Corning worth approximately $1.78 million during the second quarter, while institutional investors and hedge funds collectively own 69.8% of the company.
• Corning reported quarterly revenue of $4.74 billion and adjusted earnings of $0.78 per share, exceeding analyst expectations; revenue increased 17.1% year over year. The company guided for third-quarter EPS of $0.85–$0.89.
• Shares recently traded at $154.22, while analysts maintain a consensus “Moderate Buy” rating with a $174.08 price target. Corning also declared a quarterly dividend of $0.28 per share, implying a 0.7% annual yield.

Formuepleje A S bought a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,955 shares of the electronics maker's stock, valued at approximately $1,777,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Security National Bank raised its holdings in Corning by 340.4% during the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock worth $6,350,000 after buying an additional 56,056 shares during the period. Herbst Group LLC bought a new stake in shares of Corning during the second quarter worth $4,474,000. Principal Financial Group Inc. increased its position in shares of Corning by 1.2% during the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker's stock worth $121,483,000 after acquiring an additional 10,591 shares in the last quarter. Wealthfront Advisers LLC raised its holdings in shares of Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker's stock worth $12,567,000 after acquiring an additional 24,589 shares during the period. Finally, Atlas Wealth LLC boosted its stake in Corning by 137.8% in the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker's stock worth $1,642,000 after purchasing an additional 6,998 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Trading Down 0.1%

Shares of Corning stock opened at $154.22 on Monday. Corning Incorporated has a 12-month low of $70.06 and a 12-month high of $271.78. The stock has a market cap of $132.84 billion, a P/E ratio of 70.42, a P/E/G ratio of 1.98 and a beta of 1.16. 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 business's 50 day moving average is $164.74 and its 200-day moving average is $165.39.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. The firm's revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning's dividend payout ratio (DPR) is currently 51.14%.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. Bank of America lifted their price target on Corning from $223.00 to $243.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Citigroup decreased their price objective on Corning from $240.00 to $220.00 and set a "buy" rating for the company in a report on Wednesday, July 29th. Mizuho dropped their target price on Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a research report on Wednesday, July 29th. Zacks Research cut Corning from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded Corning from a "buy" rating to a "hold" rating in a research report on Monday, August 24th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $174.08.

Insider Transactions at Corning

In other news, EVP Lewis A. Steverson sold 13,100 shares of the company's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares of the company's stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell Weeks sold 100,000 shares of the firm's stock in a transaction dated 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 owned 908,353 shares of the company's stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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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