Washburn Capital Management Inc. Purchases Shares of 4,460 Corning Incorporated $GLW

Washburn Capital Management Inc. acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 4,460 shares of the electronics maker’s stock, valued at approximately $606,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Corning during the 4th quarter worth approximately $921,435,000. Capital Research Global Investors increased its holdings in shares of Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after acquiring an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc raised its position in shares of Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after purchasing an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership raised its position in shares of Corning by 102.1% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after purchasing an additional 2,304,676 shares during the period. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 0.7%

NYSE:GLW traded down $1.26 during trading hours on Friday, hitting $191.12. 5,343,797 shares of the company traded hands, compared to its average volume of 16,352,928. Corning Incorporated has a one year low of $51.32 and a one year high of $271.78. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a market cap of $164.49 billion, a PE ratio of 91.45, a PEG ratio of 2.52 and a beta of 1.09. The firm’s 50-day simple moving average is $193.19 and its 200-day simple moving average is $149.96.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating 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 company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

Wall Street Analysts Forecast Growth

GLW has been the subject of several research reports. Oppenheimer lifted their price target on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday. JPMorgan Chase & Co. raised their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Mizuho lifted their price objective on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. UBS Group set a $243.00 target price on shares of Corning in a research report on Monday. Finally, Morgan Stanley set a $180.00 target price on shares of Corning in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $193.54.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning landed a major multibillion-dollar agreement with Amazon to expand U.S. optical fiber production for AI data centers, and it is also partnering with Nvidia to grow domestic manufacturing capacity for advanced optical solutions. The deals reinforce Corning’s position as a key supplier in AI infrastructure. Corning (GLW) Lands Amazon Deal And Nvidia Tie Up For AI Fiber Expansion
• Positive Sentiment: Recent bullish commentary says Corning’s fundamentals remain strong, citing 18% core sales growth and 30% core EPS growth in Q1, along with momentum in Optical Communications and its Solar segment. Analysts are pointing to AI-driven fiber demand as a potential catalyst for further earnings growth. Corning: AI Partnerships Mounting, Making The 30% Plunge Buyable
• Neutral Sentiment: Market-moving articles from Barron’s also flagged Corning as one of the notable stocks in the day’s AI-driven market move, reflecting renewed investor attention rather than a company-specific earnings surprise. Stock movers article
• Neutral Sentiment: One bearish note argues that Corning may not be cheap enough after the recent pullback, suggesting valuation remains a concern even with improving growth prospects. Corning: 30 Percent Cheaper Is Not Good Enough
• Negative Sentiment: Another valuation-focused article describes Corning as having “strong fundamentals” but an “unverifiable multiple,” reinforcing concerns that the stock’s premium could limit upside if AI growth fails to accelerate further. Corning: Strong Fundamentals Wrapped In An Unverifiable Multiple

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.