Capital Research Global Investors Purchases 5,831,873 Shares of Corning Incorporated $GLW

Capital Research Global Investors increased its stake in shares of Corning Incorporated (NYSE:GLW) by 52.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 16,890,802 shares of the electronics maker’s stock after acquiring an additional 5,831,873 shares during the quarter. Capital Research Global Investors’ holdings in Corning were worth $1,478,959,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning during the third quarter worth $25,000. Berbice Capital Management LLC bought a new position in Corning during the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new position in Corning during the fourth quarter worth $26,000. Evolution Wealth Management Inc. increased its position in Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after acquiring an additional 141 shares during the period. Finally, JPL Wealth Management LLC bought a new position in Corning during the third quarter worth $33,000. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

GLW has been the topic of a number of research reports. Susquehanna boosted their target price 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. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Mizuho boosted their target price on shares of Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. UBS Group boosted their price target on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday. Finally, Bank of America boosted their price target on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Corning Stock Down 10.2%

Shares of NYSE:GLW opened at $177.52 on Friday. Corning Incorporated has a 52 week low of $49.47 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 company’s fifty day moving average is $173.00 and its 200-day moving average is $130.26. The company has a market capitalization of $152.78 billion, a PE ratio of 84.94, a P/E/G ratio of 2.54 and a beta of 1.15.

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

Corning Dividend Announcement

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

Insider Activity

In other news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,655 shares of company stock worth $12,046,561 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

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.