Corning Incorporated $GLW Shares Acquired by Cacti Asset Management LLC

Cacti Asset Management LLC increased its stake in Corning Incorporated (NYSE:GLW) by 3.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 703,270 shares of the electronics maker’s stock after purchasing an additional 23,078 shares during the quarter. Corning makes up 6.2% of Cacti Asset Management LLC’s investment portfolio, making the stock its 5th largest holding. Cacti Asset Management LLC owned about 0.08% of Corning worth $111,616,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Bank of New York Mellon Corp purchased a new stake in shares of Corning in the 2nd quarter valued at approximately $1,510,911,000. Capital Research Global Investors raised its stake in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. State Street Corp lifted its holdings in shares of Corning by 13.4% in the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock valued at $10,500,315,000 after purchasing an additional 4,845,027 shares in the last quarter. Legal & General Group Plc purchased a new position in shares of Corning during the second quarter valued at $1,212,283,000. Finally, Wellington Management Group LLP raised its position in Corning by 50.9% during the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after buying an additional 4,446,514 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: AT&T agreement supports growth visibility. Corning will supply fiber and cable under a multiyear agreement valued at more than $3 billion. The deal is expected to expand Corning’s Optical Communications business as AT&T invests in U.S. broadband capacity. Rising data usage and artificial-intelligence adoption are strengthening demand for fiber infrastructure. Can Corning’s AT&T Deal Boost Its Optical Communications Growth?
• Positive Sentiment: The contract adds a sizable backlog and reinforces Corning’s position as a supplier to large telecom networks. Investors may view it as evidence that broadband and AI-related connectivity demand can support future revenue growth beyond the company’s recent quarterly performance, which included year-over-year revenue growth and earnings above consensus.
• Neutral Sentiment: Corning also advanced alongside Coherent and Lumentum as investors favored optical and photonics companies tied to AI infrastructure. The broader sector momentum may be supporting GLW sentiment, although the largest gains were concentrated in peers with more direct AI exposure. Coherent, Lumentum and Corning market report
• Negative Sentiment: Investor litigation inquiry adds uncertainty. Pomerantz LLP said it is investigating potential claims on behalf of Corning investors. The announcement does not establish wrongdoing, but such inquiries can weigh on sentiment and introduce legal and reputational risk. Pomerantz investor alert
• Negative Sentiment: Sanford C. Bernstein initiated coverage with a Market Perform rating and a $140 price target, signaling limited upside from recent trading levels. The cautious view may temper enthusiasm over the AT&T contract, particularly given Corning’s elevated valuation. Bernstein coverage report references

Corning Stock Up 2.9%

Shares of GLW traded up $4.53 during midday trading on Thursday, reaching $158.29. 4,009,870 shares of the stock were exchanged, compared to its average volume of 12,173,502. The company has a market cap of $136.35 billion, a price-to-earnings ratio of 72.06, a P/E/G ratio of 2.02 and a beta of 1.16. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12-month low of $77.39 and a 12-month high of $271.78. The firm has a 50 day simple moving average of $152.66 and a 200-day simple moving average of $167.31.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm’s revenue was up 17.1% on a year-over-year basis. 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. Research analysts forecast that Corning Incorporated will post 3.28 EPS for the current year.

Insider Activity

In related news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the subject of several research analyst reports. Citigroup reduced their price objective on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Barclays dropped their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and reduced their price target for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. JPMorgan Chase & Co. lowered their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group reiterated an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. Twelve analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. According to data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.07.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.