Teacher Retirement System of Texas raised its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 19.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 315,392 shares of the electronics maker's stock after purchasing an additional 51,091 shares during the period. Teacher Retirement System of Texas' holdings in Corning were worth $27,616,000 at the end of the most recent reporting period.
A number of other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in Corning by 0.8% during the third quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker's stock valued at $8,096,577,000 after purchasing an additional 750,530 shares in the last quarter. State Street Corp raised its position in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after purchasing an additional 439,883 shares in the last quarter. Wellington Management Group LLP raised its position in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares in the last quarter. Ameriprise Financial Inc. raised its position in Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock valued at $724,432,000 after purchasing an additional 1,036,988 shares in the last quarter. Finally, Capital Research Global Investors purchased a new stake in Corning during the third quarter valued at about $907,164,000. Hedge funds and other institutional investors own 69.80% of the company's stock.
Insider Buying and Selling
In related news, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the transaction, the chief executive officer directly owned 750,585 shares of the company's stock, valued at $116,618,391.45. This represents a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Li Fang sold 9,797 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total transaction of $1,112,057.47. The SEC filing for this sale provides additional information. Insiders sold 233,201 shares of company stock valued at $32,614,558 over the last quarter. 0.25% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
GLW has been the topic of a number of research reports. Mizuho set a $145.00 price target on Corning in a research report on Monday, February 23rd. UBS Group raised their price objective on Corning from $125.00 to $160.00 and gave the company a "buy" rating in a research note on Friday, February 20th. HSBC reaffirmed a "buy" rating and set a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. Wall Street Zen raised Corning from a "hold" rating to a "buy" rating in a research note on Friday, January 23rd. Finally, Weiss Ratings raised Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, February 17th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $140.08.
Read Our Latest Stock Report on GLW
Key Stories Impacting Corning
Here are the key news stories impacting Corning this week:
Corning Stock Performance
Corning stock opened at $169.53 on Friday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The firm has a 50-day moving average of $145.59 and a 200-day moving average of $110.15. The firm has a market cap of $145.63 billion, a P/E ratio of 92.13, a P/E/G ratio of 2.42 and a beta of 1.06. Corning Incorporated has a 1-year low of $42.00 and a 1-year high of $176.75.
Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, topping analysts' consensus estimates of $0.71 by $0.01. The company had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. Corning's revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Sell-side analysts expect that Corning Incorporated will post 3.15 EPS for the current year.
Corning Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, February 27th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend was Friday, February 27th. Corning's dividend payout ratio is presently 60.87%.
Corning Company Profile
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Free Report)
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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