Csenge Advisory Group Acquires New Position in Corning Incorporated $GLW

Csenge Advisory Group acquired a new stake in Corning Incorporated (NYSE:GLW) during the fourth quarter, Holdings Channel reports. The firm acquired 6,029 shares of the electronics maker’s stock, valued at approximately $528,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GLW. Capital Research Global Investors bought a new stake in Corning in the 3rd quarter valued at about $907,164,000. WCM Investment Management LLC bought a new stake in Corning in the 3rd quarter valued at about $676,931,000. Wellington Management Group LLP raised its stake in Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after acquiring an additional 3,848,540 shares during the period. Polar Capital Holdings Plc raised its stake in Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after acquiring an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Corning in the 3rd quarter valued at about $185,221,000. 69.80% of the stock is currently owned by institutional investors.

Corning Trading Up 6.6%

Shares of GLW opened at $192.54 on Friday. The business’s 50-day moving average price is $160.32 and its 200-day moving average price is $122.51. Corning Incorporated has a twelve month low of $47.67 and a twelve month high of $211.79. The stock has a market cap of $165.71 billion, a PE ratio of 92.12, a P/E/G ratio of 2.59 and a beta of 1.14. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the business posted $0.54 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio is 53.59%.

Analysts Set New Price Targets

GLW has been the topic of a number of research reports. Mizuho boosted their price objective on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Citigroup boosted their price objective on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Bank of America boosted their price objective on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Wolfe Research set a $130.00 price target on Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Finally, Susquehanna upped their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $177.92.

Insider Activity at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 170,774 shares of company stock valued at $28,148,435 in the last ninety days. 0.25% of the stock is currently 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.