Weiss Asset Management LP Acquires Shares of 92,700 Corning Incorporated $GLW

Weiss Asset Management LP bought a new position in Corning Incorporated (NYSE:GLW) during the 1st quarter, Holdings Channel reports. The fund bought 92,700 shares of the electronics maker’s stock, valued at approximately $12,604,000.

A number of other hedge funds also recently made changes to their positions in the company. Norges Bank purchased a new position in Corning during the 4th quarter valued at approximately $921,435,000. Capital Research Global Investors raised its holdings in shares of Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after acquiring an additional 5,831,873 shares in the last quarter. Polar Capital Holdings Plc raised its holdings in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after acquiring an additional 2,348,125 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its position in shares of Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after acquiring an additional 2,304,676 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. purchased a new position in shares of Corning in the fourth quarter valued at $185,312,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 in the last three months. 0.25% of the stock is owned by insiders.

Corning Stock Down 6.1%

Shares of GLW opened at $146.57 on Friday. 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 business has a fifty day moving average of $188.01 and a 200 day moving average of $155.14. The company has a market cap of $126.14 billion, a PE ratio of 70.13, a P/E/G ratio of 1.93 and a beta of 1.09. Corning Incorporated has a 52-week low of $54.89 and a 52-week high of $271.78.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the business posted $0.54 earnings per share. The business’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts expect that Corning Incorporated will post 3.18 EPS for the current year.

Corning Dividend Announcement

The company 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 annualized dividend and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is presently 53.59%.

Wall Street Analysts Forecast Growth

GLW has been the topic of several research reports. Morgan Stanley set a $180.00 price target on shares of Corning in a research report on Friday, May 8th. Oppenheimer increased their price objective on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Susquehanna lifted their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Mizuho boosted their target price on shares of Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, Barclays boosted their price objective on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Nine research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average price target of $194.69.

Corning Company 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.