EFG International AG Takes $942,000 Position in Corning Incorporated $GLW

EFG International AG purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 3,688 shares of the electronics maker’s stock, valued at approximately $942,000.

Several other hedge funds have also made changes to their positions in GLW. Berbice Capital Management LLC acquired a new position in Corning during the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the fourth quarter worth $26,000. Atwood & Palmer Inc. bought a new stake in Corning in the second quarter valued at $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning in the fourth quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in shares of Corning during the fourth quarter valued at $31,000. Institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on GLW shares. Mizuho lowered their price target on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Barclays reduced their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Susquehanna upped their target price on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Morgan Stanley dropped their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, Truist Financial raised Corning from a “hold” rating to a “buy” rating and cut their price target for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Insider Activity

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 transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.25% of the company’s stock.

Corning Stock Up 3.8%

GLW stock opened at $152.76 on Thursday. The firm’s 50-day moving average is $172.96 and its two-hundred day moving average is $164.50. The company has a market capitalization of $131.59 billion, a price-to-earnings ratio of 69.75, a price-to-earnings-growth ratio of 1.88 and a beta of 1.14. Corning Incorporated has a 52 week low of $66.14 and a 52 week high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same period last year, the firm posted $0.60 earnings per share. The business’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts forecast 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. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 51.14%.

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.