346,876 Shares in Corning Incorporated $GLW Acquired by Nykredit A S

Nykredit A S acquired a new stake in shares of Corning Incorporated (NYSE:GLW) in the second quarter, Holdings Channel reports. The fund acquired 346,876 shares of the electronics maker’s stock, valued at approximately $88,603,000.

Several other large investors have also recently added to or reduced their stakes in GLW. Security National Bank boosted its position in Corning by 340.4% during the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after acquiring an additional 56,056 shares during the period. Herbst Group LLC bought a new position in shares of Corning in the second quarter worth $4,474,000. Principal Financial Group Inc. increased its holdings in shares of Corning by 1.2% during the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after purchasing an additional 10,591 shares during the period. Wealthfront Advisers LLC increased its holdings in shares of Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after purchasing an additional 24,589 shares during the period. Finally, Atlas Wealth LLC raised its stake in shares of Corning by 137.8% during the first quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock valued at $1,642,000 after purchasing an additional 6,998 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corning

In related news, EVP Lewis A. Steverson sold 13,100 shares of the firm’s stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning 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 completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages recently issued reports on GLW. JPMorgan Chase & Co. decreased their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Morgan Stanley dropped their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Barclays reduced their price target on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and decreased their price objective for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. Finally, Oppenheimer lowered their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Price Performance

NYSE:GLW opened at $144.16 on Thursday. The business’s 50-day moving average price is $167.76 and its 200 day moving average price is $165.16. The firm has a market cap of $124.18 billion, a P/E ratio of 65.83, a PEG ratio of 1.86 and a beta of 1.16. Corning Incorporated has a 52-week low of $66.40 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.

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

Corning Dividend Announcement

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

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.