NEOS Investment Management LLC Grows Position in Corning Incorporated $GLW

Key Points

• NEOS Investment Management increased its Corning stake by 12.6% in the second quarter, adding 14,106 shares to own 125,922 shares valued at approximately $32.2 million. Institutional investors and hedge funds collectively own 69.8% of GLW.
• Corning exceeded quarterly expectations with adjusted EPS of $0.78 versus the $0.76 consensus and revenue of $4.74 billion, up 17.1% year over year. The company guided for third-quarter EPS of $0.85–$0.89.
• Analysts maintain a broadly positive view, with a “Moderate Buy” consensus and an average price target of $174.08, although several firms recently lowered their targets. Corning also declared a quarterly dividend of $0.28 per share, yielding about 0.7%.

NEOS Investment Management LLC grew its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 12.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 125,922 shares of the electronics maker's stock after buying an additional 14,106 shares during the period. NEOS Investment Management LLC's holdings in Corning were worth $32,164,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Mason & Associates Inc grew its stake in Corning by 28.5% during the 2nd quarter. Mason & Associates Inc now owns 7,705 shares of the electronics maker's stock valued at $1,968,000 after acquiring an additional 1,708 shares in the last quarter. Fortune 45 LLC lifted its stake in Corning by 3.0% in the 2nd quarter. Fortune 45 LLC now owns 4,926 shares of the electronics maker's stock worth $1,259,000 after purchasing an additional 144 shares in the last quarter. High Net Worth Advisory Group LLC boosted its holdings in shares of Corning by 18.5% during the 2nd quarter. High Net Worth Advisory Group LLC now owns 5,475 shares of the electronics maker's stock worth $1,398,000 after purchasing an additional 855 shares during the last quarter. Retireful LLC boosted its holdings in shares of Corning by 7.5% during the 2nd quarter. Retireful LLC now owns 15,029 shares of the electronics maker's stock worth $3,839,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Smallwood Wealth Investment Management LLC grew its position in shares of Corning by 13.7% in the second quarter. Smallwood Wealth Investment Management LLC now owns 1,163 shares of the electronics maker's stock valued at $297,000 after purchasing an additional 140 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Price Performance

GLW stock opened at $154.22 on Friday. The business has a fifty day moving average of $164.74 and a two-hundred day moving average of $165.17. 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 stock has a market cap of $132.84 billion, a price-to-earnings ratio of 70.42, a price-to-earnings-growth ratio of 1.87 and a beta of 1.16. Corning Incorporated has a 52-week low of $70.06 and a 52-week high of $271.78.

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 business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company's quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on GLW shares. Oppenheimer reduced their price objective on 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 downgraded Corning from a "buy" rating to a "hold" rating in a research note on Monday, August 24th. Mizuho reduced their price target on Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. 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 research report on Wednesday, July 29th. Finally, UBS Group reissued a "buy" rating and issued a $196.00 price objective on shares of Corning in a report on Wednesday, July 29th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $174.08.

Insider Transactions at Corning

In related news, CEO Wendell Weeks sold 100,000 shares of the stock in a transaction that occurred 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 transaction, 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lewis A. Steverson sold 13,100 shares of Corning stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president owned 15,052 shares of the company's stock, valued at $2,277,217.08. This trade represents a 46.53% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by company insiders.

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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