WT Asset Management Ltd Makes New Investment in Corning Incorporated $GLW

WT Asset Management Ltd acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 100,000 shares of the electronics maker’s stock, valued at approximately $8,203,000. Corning makes up 0.4% of WT Asset Management Ltd’s investment portfolio, making the stock its 26th largest position.

Other institutional investors and hedge funds have also modified their holdings of the company. CVA Family Office LLC lifted its stake in Corning by 10.3% in the third quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker’s stock valued at $98,000 after buying an additional 111 shares in the last quarter. Vista Investment Partners LLC boosted its stake in Corning by 1.3% in the 3rd quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker’s stock worth $779,000 after purchasing an additional 119 shares during the period. Sapient Capital LLC increased its holdings in Corning by 2.2% during the 3rd quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker’s stock worth $452,000 after purchasing an additional 120 shares in the last quarter. Sivia Capital Partners LLC raised its stake in shares of Corning by 1.6% in the 3rd quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker’s stock valued at $635,000 after purchasing an additional 124 shares during the period. Finally, Cornerstone Planning Group LLC lifted its holdings in shares of Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 124 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Oppenheimer set a $120.00 price objective on shares of Corning in a research report on Thursday, January 29th. Mizuho raised their target price on shares of Corning from $97.00 to $120.00 and gave the company an “outperform” rating in a research report on Thursday, January 29th. Fox Advisors cut shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Finally, JPMorgan Chase & Co. raised their price objective on Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $114.25.

Insider Buying and Selling at Corning

In other news, insider Eric S. Musser sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the completion of the sale, the insider owned 4,926 shares in the company, valued at $641,611.50. The trade was a 75.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Avery H. Nelson III sold 1,583 shares of the stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $128.74, for a total value of $203,795.42. Following the transaction, the chief operating officer owned 59,788 shares in the company, valued at approximately $7,697,107.12. This trade represents a 2.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 95,687 shares of company stock worth $11,249,008 in the last ninety days. Insiders own 0.40% of the company’s stock.

Corning Stock Performance

NYSE GLW traded up $8.39 during trading on Friday, reaching $138.38. 1,575,494 shares of the company’s stock were exchanged, compared to its average volume of 9,012,166. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. The business has a 50 day moving average price of $100.80 and a 200-day moving average price of $86.62. The stock has a market capitalization of $118.72 billion, a P/E ratio of 75.11, a PEG ratio of 2.29 and a beta of 1.13. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $137.73.

Corning (NYSE:GLW) last posted its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same period in the previous year, the firm earned $0.57 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Sell-side analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, February 27th. Corning’s dividend payout ratio (DPR) is currently 60.87%.

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.