Waratah Capital Advisors Ltd. Takes $6.40 Million Position in Corning Incorporated $GLW

Waratah Capital Advisors Ltd. acquired a new stake in Corning Incorporated (NYSE:GLW) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 78,034 shares of the electronics maker’s stock, valued at approximately $6,401,000.

Several other hedge funds have also recently made changes to their positions in GLW. Norges Bank acquired a new position in Corning in the second quarter valued at approximately $534,936,000. WCM Investment Management LLC bought a new stake in Corning in the 3rd quarter valued at about $676,931,000. Voya Investment Management LLC raised its stake in Corning by 748.0% during the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock worth $260,014,000 after buying an additional 2,795,948 shares during the period. Raymond James Financial Inc. boosted its holdings in Corning by 93.0% in the second quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock worth $179,206,000 after acquiring an additional 1,641,558 shares in the last quarter. Finally, Vanguard Group Inc. grew its stake in Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after acquiring an additional 1,582,895 shares during the period. 69.80% of the stock is owned by institutional investors.

Insider Activity

In related news, insider Eric S. Musser sold 15,000 shares of the company’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the completion of the transaction, the insider directly owned 4,926 shares in the company, valued at approximately $641,611.50. The trade was a 75.28% 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 Li Fang sold 9,797 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total value of $1,112,057.47. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 95,687 shares of company stock worth $11,249,008. Company insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have commented on GLW shares. Morgan Stanley boosted their price target on shares of Corning from $103.00 to $127.00 and gave the company an “equal weight” rating in a research note on Monday. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Wolfe Research set a $130.00 target price on Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Finally, Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $121.25.

Corning Trading Up 4.2%

NYSE:GLW opened at $151.39 on Wednesday. The company has a market cap of $129.89 billion, a P/E ratio of 82.28, a P/E/G ratio of 2.52 and a beta of 1.13. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $152.91. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. The stock’s fifty day moving average price is $104.26 and its two-hundred day moving average price is $88.65.

Corning (NYSE:GLW) last issued its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter in the prior year, the firm posted $0.57 EPS. The firm’s quarterly revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s dividend payout ratio (DPR) is presently 60.87%.

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.