Korea Investment CORP Acquires 531,752 Shares of Corning Incorporated $GLW

Korea Investment CORP boosted its holdings in Corning Incorporated (NYSE:GLW) by 109.7% in the fourth quarter, HoldingsChannel reports. The firm owned 1,016,375 shares of the electronics maker’s stock after purchasing an additional 531,752 shares during the period. Korea Investment CORP’s holdings in Corning were worth $88,994,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the business. Pinpoint Asset Management Singapore Pte. Ltd. increased its holdings in Corning by 40.5% in the fourth quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 434 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 125 shares in the last quarter. Wealthspire Advisors LLC grew its stake in Corning by 132.5% in the fourth quarter. Wealthspire Advisors LLC now owns 13,514 shares of the electronics maker’s stock valued at $1,183,000 after acquiring an additional 7,701 shares during the period. Allianz SE grew its stake in Corning by 1.3% in the fourth quarter. Allianz SE now owns 20,788 shares of the electronics maker’s stock valued at $1,820,000 after acquiring an additional 258 shares during the period. Macquarie Group Ltd. grew its stake in Corning by 48.5% in the fourth quarter. Macquarie Group Ltd. now owns 175,066 shares of the electronics maker’s stock valued at $15,329,000 after acquiring an additional 57,163 shares during the period. Finally, Summit Financial LLC grew its stake in Corning by 16.8% in the fourth quarter. Summit Financial LLC now owns 22,593 shares of the electronics maker’s stock valued at $1,978,000 after acquiring an additional 3,251 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on GLW shares. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Morgan Stanley set a $180.00 price objective on Corning in a research note on Friday, May 8th. Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Mizuho raised their price objective on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Citigroup raised their price objective on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $178.31.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $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 Securities & Exchange Commission, which is available at this link. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock valued at $30,692,561 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Corning Stock Up 1.9%

Shares of NYSE:GLW opened at $179.85 on Friday. The stock has a market cap of $154.79 billion, a price-to-earnings ratio of 86.05, a PEG ratio of 2.53 and a beta of 1.15. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $49.47 and a 12-month high of $211.79. The business’s 50 day moving average is $177.15 and its 200 day moving average is $133.67.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s payout ratio is presently 53.59%.

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.