Andra AP fonden Has $29.11 Million Stake in Corning Incorporated $GLW

Andra AP fonden reduced its position in Corning Incorporated (NYSE:GLW) by 16.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 113,950 shares of the electronics maker’s stock after selling 21,800 shares during the quarter. Andra AP fonden’s holdings in Corning were worth $29,106,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in GLW. Alliance Wealth Advisors LLC raised its position in Corning by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after purchasing an additional 56 shares in the last quarter. Ares Financial Consulting LLC boosted its holdings in shares of Corning by 15.6% in the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock valued at $113,000 after purchasing an additional 60 shares in the last quarter. Signature Equity Partners LLC increased its stake in shares of Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after purchasing an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC raised its holdings in shares of Corning by 0.8% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after buying an additional 64 shares in the last quarter. Finally, Balefire LLC lifted its position in shares of Corning by 0.7% during the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock worth $1,305,000 after buying an additional 65 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 0.0%

NYSE GLW traded down $0.02 on Tuesday, reaching $158.96. The company had a trading volume of 3,413,184 shares, compared to its average volume of 12,395,599. The business has a 50 day moving average of $153.76 and a two-hundred day moving average of $166.18. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The firm has a market cap of $136.93 billion, a price-to-earnings ratio of 72.66, a P/E/G ratio of 1.92 and a beta of 1.16. Corning Incorporated has a fifty-two week low of $77.05 and a fifty-two week high of $271.78.

Corning (NYSE:GLW) last released its 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. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the firm posted $0.60 EPS. The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts forecast that Corning Incorporated will post 3.28 EPS for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid 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 0.7%. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Weiss Ratings lowered Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Morgan Stanley dropped their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Citigroup reduced their price target 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. Mizuho decreased their price target on shares of Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, September 15th. Finally, Oppenheimer lowered their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Twelve equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $176.50.

Insider Transactions at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.

Corning’s products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.

The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.