Public Employees Retirement System of Ohio Has $79.28 Million Position in Corning Incorporated $GLW

Public Employees Retirement System of Ohio raised its position in Corning Incorporated (NYSE:GLW) by 19.4% in the 2nd quarter, Holdings Channel reports. The firm owned 310,399 shares of the electronics maker’s stock after buying an additional 50,421 shares during the period. Public Employees Retirement System of Ohio’s holdings in Corning were worth $79,285,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Berbice Capital Management LLC acquired a new position in shares of Corning in the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new position in Corning during the 4th quarter worth about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of Corning in the 2nd quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning in the fourth quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in shares of Corning during the fourth quarter worth about $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on GLW shares. Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and cut their target price for the company from $205.00 to $175.00 in a research note on Sunday, August 2nd. Bank of America boosted their price objective on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Citigroup lowered their price target on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Finally, Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average 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 the company’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 value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Corning Trading Down 0.0%

Shares of NYSE:GLW opened at $152.72 on Friday. Corning Incorporated has a 52-week low of $66.14 and a 52-week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company has a market capitalization of $131.55 billion, a P/E ratio of 69.73, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14. The company has a 50-day simple moving average of $172.11 and a 200 day simple moving average of $164.71.

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

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is currently 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.