Arrowstreet Capital Limited Partnership Raises Holdings in Corning Incorporated $GLW

Arrowstreet Capital Limited Partnership grew its position in Corning Incorporated (NYSE:GLW) by 102.1% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,562,644 shares of the electronics maker’s stock after buying an additional 2,304,676 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Corning were worth $399,505,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GLW. Atlas Capital Advisors Inc. bought a new position in shares of Corning in the 4th quarter worth $1,818,000. Aptus Capital Advisors LLC raised its position in shares of Corning by 11.7% in the 4th quarter. Aptus Capital Advisors LLC now owns 8,917 shares of the electronics maker’s stock worth $781,000 after acquiring an additional 933 shares in the last quarter. FORA Capital LLC raised its position in shares of Corning by 527.7% in the 4th quarter. FORA Capital LLC now owns 75,578 shares of the electronics maker’s stock worth $6,618,000 after acquiring an additional 63,537 shares in the last quarter. CreativeOne Wealth LLC raised its position in shares of Corning by 13.7% in the 4th quarter. CreativeOne Wealth LLC now owns 14,885 shares of the electronics maker’s stock worth $1,303,000 after acquiring an additional 1,796 shares in the last quarter. Finally, The Manufacturers Life Insurance Company raised its position in shares of Corning by 0.4% in the 4th quarter. The Manufacturers Life Insurance Company now owns 459,968 shares of the electronics maker’s stock worth $40,287,000 after acquiring an additional 1,908 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Trading Up 1.9%

Shares of NYSE:GLW opened at $179.85 on Friday. The business’s 50-day moving average is $177.15 and its 200 day moving average is $133.67. Corning Incorporated has a 1 year low of $49.47 and a 1 year high of $211.79. The firm has a market capitalization of $154.79 billion, a P/E ratio of 86.05, a P/E/G ratio of 2.56 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

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

Corning Dividend Announcement

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on GLW shares. Mizuho boosted their price target on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Susquehanna boosted their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. UBS Group boosted their price target on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research report on Friday, June 5th. Finally, Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.31.

Insider Activity at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This represents a 43.89% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock worth $30,692,561 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Corning 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.