Arrowstreet Capital Limited Partnership Buys 2,304,676 Shares of Corning Incorporated $GLW

Arrowstreet Capital Limited Partnership lifted its stake in Corning Incorporated (NYSE:GLW) by 102.1% during the 4th quarter, according to its most recent disclosure with the Securities & 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 owned about 0.53% of Corning worth $399,505,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Corning during the 3rd quarter valued at approximately $25,000. Berbice Capital Management LLC bought a new stake in Corning during the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning during the 4th quarter valued at approximately $26,000. Litman Gregory Wealth Management LLC bought a new stake in Corning during the 4th quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. raised its stake in Corning by 58.8% during the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 141 shares during the period. Institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction on 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 completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on 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 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 SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock worth $30,692,561 over the last quarter. 0.25% of the stock is owned by insiders.

Analyst Ratings Changes

Several analysts recently issued reports on the company. Oppenheimer lifted their target price on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Citigroup lifted their target price on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Truist Financial lifted their target price on Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. lifted their target price on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Finally, Bank of America lifted their target price on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research note on Monday, April 20th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $178.31.

Corning Price Performance

GLW opened at $179.85 on Friday. The business has a fifty day moving average of $177.15 and a 200 day moving average of $133.67. Corning Incorporated has a 52-week low of $49.47 and a 52-week high of $211.79. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a market cap of $154.79 billion, a P/E ratio of 86.05, a PEG ratio of 2.56 and a beta of 1.15.

Corning (NYSE:GLW) last posted 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. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the business earned $0.54 EPS. Corning’s 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. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

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

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.