VIRGINIA RETIREMENT SYSTEMS ET Al Acquires 20,100 Shares of Corning Incorporated $GLW

VIRGINIA RETIREMENT SYSTEMS ET Al grew its position in shares of Corning Incorporated (NYSE:GLW) by 25.1% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 100,104 shares of the electronics maker’s stock after buying an additional 20,100 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al’s holdings in Corning were worth $15,392,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. State Street Corp raised its position in shares of Corning by 13.4% during the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after buying an additional 4,845,027 shares in the last quarter. Bank of America Corp DE grew its holdings in Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock worth $4,784,361,000 after acquiring an additional 4,231,507 shares during the period. Wellington Management Group LLP grew its holdings in Corning by 50.9% during the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after acquiring an additional 4,446,514 shares during the period. Bank of New York Mellon Corp bought a new stake in Corning in the second quarter worth about $1,510,911,000. Finally, Legal & General Group Plc bought a new stake in Corning in the second quarter worth about $1,212,283,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 4.3%

Shares of GLW stock opened at $123.29 on Friday. Corning Incorporated has a 12 month low of $77.39 and a 12 month high of $271.78. The company has a quick ratio of 1.24, a current ratio of 1.72 and a debt-to-equity ratio of 0.51. The business’s 50 day moving average is $147.88 and its two-hundred day moving average is $154.97. The company has a market cap of $106.20 billion, a PE ratio of 49.92, a price-to-earnings-growth ratio of 1.52 and a beta of 1.13.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.88 by $0.03. Corning had a net margin of 12.13% and a return on equity of 20.83%. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the prior year, the company earned $0.67 earnings per share. The business’s quarterly revenue was up 18.9% compared to the same quarter last year. Equities analysts predict that Corning Incorporated will post 3.37 EPS for the current year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s dividend payout ratio (DPR) is presently 45.34%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. The Goldman Sachs Group restated an “outperform” rating on shares of Corning in a report on Tuesday, September 15th. China Renaissance raised Corning from a “hold” rating to a “buy” rating and set a $238.00 target price on the stock in a research report on Tuesday, September 8th. Bank of America reduced their target price on Corning from $243.00 to $200.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research report on Saturday, October 10th. Finally, Barclays boosted their price objective on Corning from $129.00 to $132.00 and gave the stock an “equal weight” rating in a report on Wednesday. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $175.81.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s third-quarter sales increased roughly 19% year over year, while earnings exceeded estimates. Growth in Optical Communications, improving margins and demand from AI data-center customers supported the results and the company’s outlook. Corning Q3 Sales Jump 19% as AI Optical Demand and Margins Accelerate
• Positive Sentiment: Zacks Research upgraded GLW from “hold” to “strong-buy,” and Truist Financial reaffirmed its “buy” rating. These actions indicate that some analysts continue to view AI-driven photonics growth and stronger execution as attractive catalysts. Zacks Research Stock Recommendations Corning Stock Rating Reaffirmed as Buy by Truist Financial
• Positive Sentiment: Reports highlight completed production expansion and major customer opportunities, although the valuation benefit depends on Corning converting higher demand into sustained profit-margin improvement. Morgan Stanley Report on Corning’s Production Expansion
• Neutral Sentiment: Corning was featured among dividend-growth stocks with solid fundamentals, but the broader article does not represent a company-specific catalyst. Dividend Growth Stocks Article
• Negative Sentiment: Morgan Stanley lowered its expectations for Corning’s stock, while a separate fair-value estimate fell from $189.94 to $182.76. The revisions reflect concerns about elevated valuation, execution risk and whether AI-related growth can justify the stock’s premium multiple. Morgan Stanley Lowers Expectations for Corning Corning Fair Value Edges Lower
• Negative Sentiment: Exchange-traded funds were reported as net sellers of GLW, adding near-term technical pressure. The stock also remains below its 50- and 200-day moving averages, while its high price-to-earnings ratio leaves it vulnerable to further profit-taking. ETFs Are Net Sellers of Corning

Insider Buying and Selling at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.25% of the company’s stock.

About Corning

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.