Rakuten Securities Inc. Invests $1.23 Million in Corning Incorporated $GLW

Rakuten Securities Inc. bought a new stake in shares of Corning Incorporated (NYSE:GLW) in the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 4,803 shares of the electronics maker’s stock, valued at approximately $1,227,000.

Several other large investors also recently made changes to their positions in GLW. Vanguard Group Inc. boosted its position in shares of Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after buying an additional 580,678 shares during the period. State Street Corp grew its holdings in Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares in the last quarter. Geode Capital Management LLC raised its stake in Corning by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after acquiring an additional 517,067 shares in the last quarter. Capital Research Global Investors raised its stake in Corning by 52.7% during the 4th 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. Finally, Ameriprise Financial Inc. boosted its position in Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after acquiring an additional 1,036,988 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the topic of a number of recent analyst reports. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and cut their price objective for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Barclays lowered their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Wall Street Zen lowered Corning from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Finally, Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Corning Price Performance

Shares of NYSE:GLW opened at $149.91 on Friday. The company’s fifty day moving average is $174.83 and its two-hundred day moving average is $163.35. The company has a market cap of $129.13 billion, a P/E ratio of 68.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14. Corning Incorporated has a 12-month low of $65.09 and a 12-month high of $271.78. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is 51.14%.

Insiders Place Their Bets

In other news, 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 owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.25% of the stock is currently owned by company insiders.

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.