71 West Capital Partners Takes Position in Corning Incorporated $GLW

71 West Capital Partners acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 6,399 shares of the electronics maker’s stock, valued at approximately $560,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Capital Research Global Investors bought a new stake in Corning during the 3rd quarter valued at approximately $907,164,000. Norges Bank bought a new stake in Corning during the 4th quarter valued at approximately $921,435,000. Wellington Management Group LLP boosted its position in Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after acquiring an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc boosted its position in Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after acquiring an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership boosted its position in Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after acquiring an additional 2,304,676 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

GLW has been the topic of several research reports. Citigroup lifted their price objective on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Oppenheimer lifted 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. Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Mizuho lifted their price objective on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Insider Activity

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer owned 908,353 shares in the company, 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. Over the last 90 days, insiders have sold 160,655 shares of company stock worth $30,692,561. Company insiders own 0.25% of the company’s stock.

Corning Price Performance

GLW stock opened at $177.34 on Wednesday. Corning Incorporated has a 52-week low of $49.97 and a 52-week high of $211.79. The firm has a market capitalization of $152.62 billion, a price-to-earnings ratio of 84.85, a PEG ratio of 2.69 and a beta of 1.15. The firm has a 50 day moving average price of $178.51 and a 200-day moving average price of $135.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the business earned $0.54 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

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

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.