212,013 Shares in Corning Incorporated $GLW Purchased by E Fund Management Co. Ltd.

E Fund Management Co. Ltd. acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the second quarter, HoldingsChannel reports. The firm acquired 212,013 shares of the electronics maker’s stock, valued at approximately $54,154,000. Corning accounts for 1.2% of E Fund Management Co. Ltd.’s holdings, making the stock its 19th largest holding.

Other large investors have also modified their holdings of the company. Atwood & Palmer Inc. acquired a new position in shares of Corning in the 2nd quarter valued at $26,000. First Community Trust NA acquired a new stake in shares of Corning during the 2nd quarter valued at about $72,000. N.E.W. Advisory Services LLC acquired a new stake in shares of Corning during the 2nd quarter valued at about $76,000. Berbice Capital Management LLC bought a new stake in Corning in the fourth quarter valued at about $26,000. Finally, Basepoint Wealth LLC bought a new stake in Corning in the fourth quarter valued at about $26,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 4.6%

GLW opened at $152.52 on Thursday. Corning Incorporated has a 1-year low of $63.37 and a 1-year high of $271.78. The stock has a market capitalization of $131.38 billion, a PE ratio of 69.64, a PEG ratio of 2.05 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $175.94 and a two-hundred day moving average price of $163.10.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period last year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal 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 given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Analysts Set New Price Targets

Several equities analysts recently commented on GLW shares. Oppenheimer cut their target price on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Susquehanna increased their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, August 7th. Finally, Bank of America boosted their target price on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $174.08.

Insider Activity at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is owned by company insiders.

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.