Opinicus Capital Inc. Invests $369,000 in Corning Incorporated $GLW

Opinicus Capital Inc. bought a new stake in Corning Incorporated (NYSE:GLW) in the first quarter, HoldingsChannel reports. The firm bought 2,716 shares of the electronics maker’s stock, valued at approximately $369,000.

Several other hedge funds also recently made changes to their positions in GLW. Vanguard Group Inc. lifted its position in Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after buying an additional 580,678 shares during the period. State Street Corp grew its position in shares of Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares during the period. Geode Capital Management LLC increased its stake in shares of Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after acquiring an additional 517,067 shares in the last quarter. Capital Research Global Investors increased its stake in shares of Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after acquiring an additional 5,831,873 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after acquiring an additional 1,036,988 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GLW has been the topic of several research reports. Citigroup boosted their price objective on shares of Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday. Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Barclays boosted their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, JPMorgan Chase & Co. upped their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Price Performance

NYSE GLW opened at $187.94 on Wednesday. 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 stock has a 50-day moving average of $194.07 and a 200 day moving average of $151.75. Corning Incorporated has a one year low of $52.19 and a one year high of $271.78. The company has a market capitalization of $161.75 billion, a price-to-earnings ratio of 89.92, a PEG ratio of 2.40 and a beta of 1.09.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion for 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 firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior 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 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio is presently 53.59%.

Insiders Place Their Bets

In other news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were 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 in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by corporate insiders.

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.