IFM Investors Pty Ltd Acquires 11,263 Shares of Corning Incorporated $GLW

IFM Investors Pty Ltd boosted its holdings in Corning Incorporated (NYSE:GLW) by 7.3% in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 165,459 shares of the electronics maker’s stock after buying an additional 11,263 shares during the quarter. IFM Investors Pty Ltd’s holdings in Corning were worth $22,497,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of the stock. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning in the third quarter worth approximately $25,000. Berbice Capital Management LLC bought a new position in Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new position in Corning during the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. purchased a new stake in Corning in the fourth quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in Corning in the fourth quarter worth approximately $31,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 0.2%

GLW opened at $255.29 on Wednesday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1-year low of $51.32 and a 1-year high of $271.78. The company has a market capitalization of $219.71 billion, a PE ratio of 122.15, a PEG ratio of 3.66 and a beta of 1.15. The firm’s 50 day simple moving average is $188.32 and its two-hundred day simple moving average is $144.39.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 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 for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.4%. Corning’s payout ratio is 53.59%.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last ninety days. 0.25% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

GLW has been the subject of a number of research reports. UBS Group boosted their target price on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Bank of America raised their price target on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Oppenheimer upped their price objective on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Finally, Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and six 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 $182.62.

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.