Northwestern Mutual Wealth Management Co. Purchases Shares of 198,332 Corning Incorporated $GLW

Northwestern Mutual Wealth Management Co. acquired a new position in Corning Incorporated (NYSE:GLW) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 198,332 shares of the electronics maker’s stock, valued at approximately $50,660,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLW. Brighton Jones LLC grew its holdings in Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new position in shares of Corning in the first quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after acquiring an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in Corning during the second quarter valued at $401,000. Finally, Schnieders Capital Management LLC. purchased a new position in Corning during the second quarter valued at $266,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of NYSE:GLW opened at $149.91 on Friday. The firm has a fifty day simple moving average of $174.83 and a two-hundred day simple moving average of $163.35. Corning Incorporated has a 52 week low of $65.09 and a 52 week high of $271.78. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $129.13 billion, a P/E ratio of 68.45, a PEG ratio of 1.92 and a beta of 1.14.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same period in the prior year, the company earned $0.60 EPS. The business’s revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s payout ratio is 51.14%.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction that occurred on 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 owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have commented on GLW. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Susquehanna lifted their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Mizuho decreased their target price on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley dropped their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Finally, JPMorgan Chase & Co. cut their price target on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

About Corning

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.