PeakShares LLC Makes New Investment in Corning Incorporated $GLW

PeakShares LLC purchased a new stake in Corning Incorporated (NYSE:GLW) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 11,424 shares of the electronics maker’s stock, valued at approximately $1,000,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GLW. Capital Research Global Investors bought a new position in shares of Corning during the third quarter worth about $907,164,000. Norges Bank bought a new stake in Corning in the fourth quarter valued at approximately $921,435,000. Wellington Management Group LLP boosted its holdings in Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after acquiring an additional 3,848,540 shares during the last quarter. Polar Capital Holdings Plc increased its position in Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its position in Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after purchasing an additional 2,304,676 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on GLW shares. Barclays boosted their price target on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Susquehanna increased their price objective 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. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

Corning Price Performance

Shares of GLW opened at $195.28 on Friday. Corning Incorporated has a 52-week low of $49.97 and a 52-week high of $211.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The business’s 50 day moving average price is $180.63 and its two-hundred day moving average price is $137.25. The firm has a market cap of $168.06 billion, a PE ratio of 93.44, a price-to-earnings-growth ratio of 2.79 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 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%.The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

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 paid 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 yield of 0.6%. Corning’s dividend payout ratio is currently 53.59%.

Insider Buying and Selling at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated 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 $169,371,500.38. This trade represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. Insiders own 0.25% of the company’s stock.

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.