Corning Incorporated $GLW Shares Acquired by Legal & General Group Plc

Legal & General Group Plc boosted its stake in Corning Incorporated (NYSE:GLW) by 0.6% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 5,400,717 shares of the electronics maker’s stock after buying an additional 31,971 shares during the period. Legal & General Group Plc owned approximately 0.63% of Corning worth $443,021,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GLW. Norges Bank purchased a new position in Corning in the second quarter worth approximately $534,936,000. WCM Investment Management LLC purchased a new stake in shares of Corning in the 3rd quarter valued at approximately $676,931,000. Voya Investment Management LLC increased its position in shares of Corning by 748.0% in the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock valued at $260,014,000 after purchasing an additional 2,795,948 shares during the last quarter. Raymond James Financial Inc. raised its holdings in shares of Corning by 93.0% in the 2nd quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock valued at $179,206,000 after purchasing an additional 1,641,558 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of Corning by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after purchasing an additional 1,582,895 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on GLW. UBS Group raised their price target on Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Morgan Stanley increased their price objective on Corning from $103.00 to $127.00 and gave the company an “equal weight” rating in a report on Monday, February 23rd. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Barclays set a $100.00 target price on Corning in a research note on Thursday, January 29th. Finally, Wolfe Research set a $130.00 price target on shares of Corning and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $125.42.

Corning Price Performance

Shares of NYSE:GLW opened at $136.14 on Wednesday. Corning Incorporated has a one year low of $37.31 and a one year high of $162.10. The stock has a market capitalization of $116.80 billion, a price-to-earnings ratio of 73.99, a PEG ratio of 2.23 and a beta of 1.05. The company has a 50-day simple moving average of $115.25 and a 200-day simple moving average of $94.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business’s revenue was up 13.9% on a year-over-year basis. During the same quarter last year, the company posted $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio (DPR) is currently 60.87%.

Insider Buying and Selling

In other Corning news, insider Eric S. Musser sold 15,000 shares of the company’s stock in a transaction dated Monday, February 9th. The shares were sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the transaction, the insider directly owned 4,926 shares in the company, valued at approximately $641,611.50. This represents a 75.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the sale, the chief executive officer directly owned 750,585 shares in the company, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 233,201 shares of company stock valued at $32,614,558 in the last quarter. Corporate insiders own 0.32% of the company’s stock.

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.