Mediolanum International Funds Ltd Buys New Shares in Corning Incorporated $GLW

Mediolanum International Funds Ltd purchased a new stake in shares of Corning Incorporated (NYSE:GLW) in the 1st quarter, Holdings Channel reports. The institutional investor purchased 89,816 shares of the electronics maker’s stock, valued at approximately $11,546,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Hershey Financial Advisers LLC bought a new position in shares of Corning during the 1st quarter valued at approximately $1,509,000. Jennison Associates LLC raised its stake in Corning by 40.3% during the 1st quarter. Jennison Associates LLC now owns 333,272 shares of the electronics maker’s stock worth $45,315,000 after acquiring an additional 95,769 shares during the period. Aviance Capital Partners LLC raised its stake in Corning by 10.4% during the 1st quarter. Aviance Capital Partners LLC now owns 5,449 shares of the electronics maker’s stock worth $741,000 after acquiring an additional 513 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Corning by 10.6% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,745 shares of the electronics maker’s stock valued at $373,000 after purchasing an additional 264 shares in the last quarter. Finally, Quadrant Private Wealth Management LLC lifted its holdings in Corning by 6.0% during the first quarter. Quadrant Private Wealth Management LLC now owns 2,997 shares of the electronics maker’s stock valued at $407,000 after purchasing an additional 169 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

GLW has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Mizuho lifted their target price on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Bank of America upped their target price on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Wall Street Zen raised shares of Corning from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Oppenheimer increased their price target on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $194.69.

Corning Price Performance

Shares of NYSE:GLW opened at $154.47 on Monday. The firm has a market cap of $132.94 billion, a price-to-earnings ratio of 73.91, a P/E/G ratio of 2.03 and a beta of 1.09. The firm has a fifty day moving average price of $192.81 and a 200 day moving average price of $153.30. Corning Incorporated has a fifty-two week low of $53.29 and a fifty-two week high of $271.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the company earned $0.54 EPS. The business’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, sell-side analysts expect that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is currently 53.59%.

Insider Activity at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the 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 directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 in the last 90 days. 0.25% of the stock is currently owned by insiders.

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.