Principal Financial Group Inc. Has $121.48 Million Stake in Corning Incorporated $GLW

Key Points

• Principal Financial Group increased its Corning stake by 1.2% in the first quarter, ending with 893,451 shares valued at about $121.48 million.
• Corning continues to attract attention as an AI infrastructure beneficiary, with reports citing its role in easing networking and connectivity bottlenecks and maintaining generally positive analyst sentiment.
• The company posted solid recent results, with Q1 earnings of $0.70 per share beating estimates and revenue rising 18.1% year over year; Corning also raised Q2 2026 EPS guidance to $0.73–$0.77.

Principal Financial Group Inc. grew its position in Corning Incorporated (NYSE:GLW - Free Report) by 1.2% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 893,451 shares of the electronics maker's stock after purchasing an additional 10,591 shares during the period. Principal Financial Group Inc. owned approximately 0.10% of Corning worth $121,483,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Berbice Capital Management LLC acquired a new position in Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning in the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Corning in the fourth quarter valued at approximately $27,000. Litman Gregory Wealth Management LLC bought a new stake in shares of Corning in the fourth quarter worth $31,000. Finally, JPL Wealth Management LLC acquired a new position in Corning during the third quarter worth $33,000. 69.80% of the stock is currently owned by institutional investors.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning is still being highlighted as a beneficiary of AI infrastructure spending, with articles pointing to its role in solving networking and connectivity bottlenecks and noting consensus Buy/Moderate Buy sentiment. Beyond the Foundry: 5 Infrastructure Stocks Tackling the AI Bottlenecks (GLW)
• Positive Sentiment: Technical traders are pointing to Corning testing its 80-day moving average, a level that has historically acted as a bullish support trendline, suggesting some upside potential after the recent breather. Corning Stock Signal Hints at Upside Potential Amid Breather
• Neutral Sentiment: Several previews and industry outlook pieces are keeping Corning in focus ahead of earnings, but they do not appear to change the investment thesis materially on their own. Corning earnings preview: What to expect
• Neutral Sentiment: Corning remains on industry watchlists alongside peers benefiting from fiber densification, cloud spending, and 5G deployment, which supports the longer-term growth case but is not a direct catalyst. 3 Communication Stocks Set to Soar on Inherent Sector Strength
• Negative Sentiment: Investor sentiment has been pressured by a report citing executive stock sales and earnings uncertainty, while another note argued GLW may not look cheap after its strong multi-year run, raising valuation concerns. Corning (GLW) Stock Plunges 8% Amid Executive Sales and Earnings Uncertainty Corning (GLW) Stock Could Be 7% Above Fair Value On AI Selloff

Corning Stock Performance

Shares of GLW stock opened at $174.44 on Thursday. The company has a fifty day moving average price of $193.94 and a two-hundred day moving average price of $152.35. Corning Incorporated has a one year low of $52.19 and a one year high of $271.78. The stock has a market cap of $150.13 billion, a P/E ratio of 83.46, a P/E/G ratio of 2.47 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.34 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same period in the prior year, the firm earned $0.54 EPS. Corning's quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts predict 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. 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 annualized dividend and a yield of 0.6%. Corning's dividend payout ratio is currently 53.59%.

Analysts Set New Price Targets

A number of research firms recently weighed in on GLW. Morgan Stanley set a $180.00 target price on shares of Corning in a research report on Friday, May 8th. UBS Group set a $243.00 price objective on shares of Corning in a research note on Monday, July 6th. Mizuho raised their price objective on Corning from $220.00 to $270.00 and gave the company an "outperform" rating in a report on Wednesday, July 1st. Truist Financial lifted their target price on Corning from $149.00 to $205.00 and gave the company a "hold" rating in a research report on Monday, June 22nd. Finally, Bank of America upped their target price on Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $194.69.

Insider Transactions at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company's stock, valued at $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred 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 transaction, the vice president owned 5,138 shares of the company's stock, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 160,655 shares of company stock valued at $30,692,560. Company insiders own 0.25% of the company's stock.

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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