Jupiter Topco LLC Invests $564.65 Million in Corning Incorporated $GLW

Jupiter Topco LLC acquired a new stake in Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 2,210,653 shares of the electronics maker’s stock, valued at approximately $564,654,000.

Several other institutional investors and hedge funds also recently made changes to their positions in GLW. J. Goldman & Co LP acquired a new stake in Corning during the second quarter worth approximately $422,000. ABS Investment Management LLC bought a new stake in Corning in the second quarter worth approximately $664,118,000. EFG International AG acquired a new position in Corning in the second quarter valued at approximately $942,000. Ancora Advisors LLC acquired a new position in Corning in the second quarter valued at approximately $3,396,000. Finally, Delos Wealth Advisors LLC bought a new position in shares of Corning during the 2nd quarter worth approximately $55,000. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of GLW opened at $147.45 on Wednesday. Corning Incorporated has a 12-month low of $66.14 and a 12-month high of $271.78. The business’s fifty day moving average is $173.41 and its 200 day moving average is $164.22. 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 cap of $127.01 billion, a P/E ratio of 67.33, a P/E/G ratio of 1.86 and a beta of 1.14.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s quarterly revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Sell-side analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a research note on Monday. Weiss Ratings cut shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. JPMorgan Chase & Co. dropped their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Mizuho cut their price objective on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Morgan Stanley reduced their target price 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. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $174.08.

Insider Activity at Corning

In related news, 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 sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is currently owned by insiders.

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.