Evergreen Quality Fund GP Ltd. Invests $185.31 Million in Corning Incorporated $GLW

Evergreen Quality Fund GP Ltd. purchased a new stake in Corning Incorporated (NYSE:GLW) during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 2,116,400 shares of the electronics maker’s stock, valued at approximately $185,312,000. Corning makes up approximately 3.7% of Evergreen Quality Fund GP Ltd.’s investment portfolio, making the stock its 9th largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning during the 3rd quarter valued at about $25,000. Berbice Capital Management LLC acquired a new stake in shares of Corning in the 4th quarter valued at about $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning during the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning in the 4th quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in Corning during the 4th quarter valued at $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Buying and Selling

In related news, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction dated 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 $18,138,016. The trade was a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,655 shares of company stock valued at $30,692,561 in the last 90 days. 0.25% of the stock is owned by company insiders.

Corning Price Performance

NYSE GLW opened at $174.98 on Thursday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a market cap of $150.59 billion, a PE ratio of 83.72, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. Corning Incorporated has a 52 week low of $49.97 and a 52 week high of $211.79. The firm’s 50-day simple moving average is $179.09 and its two-hundred day simple moving average is $136.06.

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

Corning Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on GLW shares. Citigroup raised their price objective on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Barclays upped their price objective on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Susquehanna lifted their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $178.31.

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.