Tocqueville Asset Management L.P. Invests $44 Million in Corning Incorporated $GLW

Tocqueville Asset Management L.P. purchased a new position in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 172,269 shares of the electronics maker’s stock, valued at approximately $44,003,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in GLW. Norges Bank acquired a new stake in Corning in the fourth quarter worth $921,435,000. Bank of New York Mellon Corp bought a new stake in Corning in the second quarter valued at $1,510,911,000. Capital Research Global Investors boosted its holdings in shares of Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares during the period. Deutsche Bank AG acquired a new position in shares of Corning during the second quarter valued at $612,763,000. Finally, Polar Capital Holdings Plc grew its position in shares of Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after acquiring an additional 2,348,125 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the topic of a number of analyst reports. Oppenheimer dropped their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. UBS Group reissued a “buy” rating and set a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Mizuho decreased their target price 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. JPMorgan Chase & Co. dropped their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Finally, Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business’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 transaction of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.25% of the company’s stock.

Corning Price Performance

Shares of GLW opened at $152.52 on Thursday. Corning Incorporated has a one year low of $63.37 and a one year high of $271.78. The stock’s fifty day moving average is $175.94 and its 200-day moving average is $163.10. 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 firm has a market capitalization of $131.38 billion, a price-to-earnings ratio of 69.64, a price-to-earnings-growth ratio of 2.05 and a beta of 1.14.

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

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is currently 51.14%.

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.