Wealth High Governance Capital Ltda Acquires New Position in Corning Incorporated $GLW

Key Points

• Wealth High Governance Capital Ltda acquired 69,014 Corning shares worth approximately $17.6 million, making GLW its second-largest holding at 5.3% of the portfolio. Institutional investors and hedge funds collectively own 69.8% of Corning.
• Corning exceeded quarterly expectations, reporting $0.78 adjusted EPS versus $0.76 expected and $4.74 billion in revenue, up 17.1% year over year. The company guided to third-quarter 2026 EPS of $0.85–$0.89.
• Analyst sentiment remains a “Moderate Buy,” although price targets were mixed and the average target fell to $174.08. Corning also declared a quarterly dividend of $0.28 per share, implying a 0.7% yield.

Wealth High Governance Capital Ltda bought a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor bought 69,014 shares of the electronics maker's stock, valued at approximately $17,628,000. Corning accounts for about 5.3% of Wealth High Governance Capital Ltda's holdings, making the stock its 2nd largest position.

A number of other hedge funds also recently added to or reduced their stakes in GLW. Berbice Capital Management LLC acquired a new position in shares of Corning in the fourth quarter worth $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning during the fourth quarter worth $26,000. Atwood & Palmer Inc. acquired a new stake in shares of Corning in the second quarter valued at $26,000. Kemnay Advisory Services Inc. purchased a new position in Corning in the fourth quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in Corning in the fourth quarter valued at $31,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the business's 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 0.25% of the company's stock.

Corning Stock Performance

NYSE:GLW opened at $149.91 on Monday. The firm has a market capitalization of $129.13 billion, a PE ratio of 68.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The business's fifty day moving average price is $174.83 and its 200 day moving average price is $163.72. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a 12 month low of $65.09 and a 12 month high of $271.78.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts' consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning's quarterly revenue was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

Analyst Ratings Changes

Several equities research analysts have weighed in on GLW shares. Oppenheimer cut their price target on Corning from $230.00 to $200.00 and set an "outperform" rating on the stock in a report on Wednesday, July 29th. Bank of America lifted their price objective on Corning from $223.00 to $243.00 and gave the company a "buy" rating in a research note on Monday, July 6th. JPMorgan Chase & Co. lowered their price objective on Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a research report 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 note on Wednesday, July 29th. Finally, Barclays reduced their target price on shares of Corning from $180.00 to $129.00 and set an "equal weight" rating on the stock 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, the stock presently has an average rating of "Moderate Buy" and an average target price of $174.08.

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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