Korea Investment CORP Makes New Investment in Corning Incorporated $GLW

Korea Investment CORP purchased a new stake in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 611,694 shares of the electronics maker’s stock, valued at approximately $156,245,000. Korea Investment CORP owned 0.07% of Corning at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GLW. Berbice Capital Management LLC acquired a new stake in Corning in the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in Corning during the 4th quarter worth $26,000. Atwood & Palmer Inc. acquired a new position in Corning during the 2nd quarter worth $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning in the fourth quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in shares of Corning in the fourth quarter worth $31,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Price Performance

NYSE GLW opened at $149.91 on Friday. Corning Incorporated has a 1 year low of $65.09 and a 1 year high of $271.78. The business’s fifty day moving average is $174.83 and its two-hundred day moving average is $163.35. The stock has a market capitalization of $129.13 billion, a P/E ratio of 68.45, a P/E/G ratio of 1.94 and a beta of 1.14. 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) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period last year, the company posted $0.60 EPS. The company’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. On average, research analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company 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 $0.28 dividend. 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%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on GLW. Truist Financial raised Corning from a “hold” rating to a “buy” rating and lowered their price target for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. Citigroup decreased their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Morgan Stanley reduced their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Finally, Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Insider Activity

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 sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.25% of the stock is owned by corporate insiders.

Corning 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.