The Manufacturers Life Insurance Company Makes New Investment in Corning Incorporated $GLW

The Manufacturers Life Insurance Company bought a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 402,442 shares of the electronics maker's stock, valued at approximately $102,796,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Trajan Wealth LLC bought a new stake in Corning during the second quarter worth $11,718,000. Van Hulzen Asset Management LLC acquired a new position in shares of Corning during the 2nd quarter worth $391,000. Front Street Capital Management Inc. acquired a new position in shares of Corning during the 2nd quarter worth $35,948,000. SurgoCap Partners LP bought a new stake in shares of Corning during the 2nd quarter worth $203,624,000. Finally, Peak Asset Management LLC acquired a new stake in Corning in the second quarter valued at about $1,559,000. Institutional investors own 69.80% of the company's stock.

Corning Trading Up 1.3%

Shares of NYSE GLW opened at $147.45 on Wednesday. The firm has a 50 day moving average price of $173.41 and a two-hundred day moving average price of $164.22. The stock has a market cap of $127.01 billion, a P/E ratio of 67.33, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14. Corning Incorporated has a 52-week low of $66.14 and a 52-week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the previous year, the business earned $0.60 earnings per share. Corning's revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts forecast that Corning Incorporated will post 3.27 EPS 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 issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning's payout ratio is presently 51.14%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GLW. Susquehanna increased their target price on shares of Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a report on Wednesday, April 29th. Bank of America lifted their price target on shares of Corning from $223.00 to $243.00 and gave the company a "buy" rating in a report on Monday, July 6th. JPMorgan Chase & Co. dropped their price objective on shares of Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a research note on Wednesday, July 29th. Citigroup cut their target price 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, Mizuho decreased their target price on shares of Corning from $270.00 to $210.00 and set an "outperform" rating on the stock in a research note 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 stock presently has an average rating of "Moderate Buy" and a consensus price target of $174.08.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 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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