AXQ Capital LP Purchases New Shares in Corning Incorporated $GLW

AXQ Capital LP acquired a new stake in Corning Incorporated (NYSE:GLW) in the 4th quarter, HoldingsChannel reports. The institutional investor acquired 6,304 shares of the electronics maker’s stock, valued at approximately $552,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of GLW. Beese Fulmer Investment Management Inc. increased its position in Corning by 2.5% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock valued at $336,000 after acquiring an additional 92 shares in the last quarter. Patten & Patten Inc. TN lifted its position in shares of Corning by 0.6% during the fourth quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after purchasing an additional 100 shares in the last quarter. Joel Isaacson & Co. LLC grew its stake in shares of Corning by 0.5% during the fourth quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock valued at $1,797,000 after purchasing an additional 102 shares during the last quarter. Angeles Wealth Management LLC grew its stake in shares of Corning by 2.8% during the third quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker’s stock valued at $348,000 after purchasing an additional 116 shares during the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC increased its holdings in shares of Corning by 37.3% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 442 shares of the electronics maker’s stock valued at $39,000 after purchasing an additional 120 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

Several research firms recently weighed in on GLW. Bank of America boosted their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. 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. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. HSBC reaffirmed a “buy” rating and set a $135.00 price target on shares of Corning in a research note on Friday, February 13th. Finally, Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.92.

Insider Buying and Selling

In other news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 60,655 shares of company stock valued at $12,046,561 over the last 90 days. 0.25% of the stock is owned by corporate insiders.

Corning Stock Performance

Shares of Corning stock opened at $201.40 on Thursday. The firm has a fifty day moving average of $171.25 and a two-hundred day moving average of $129.11. The stock has a market capitalization of $173.33 billion, a price-to-earnings ratio of 96.36, a PEG ratio of 2.87 and a beta of 1.15. Corning Incorporated has a 52 week low of $49.47 and a 52 week high of $211.79. 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 posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the company earned $0.54 EPS. The firm’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders 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 dividend payout ratio (DPR) is 53.59%.

Corning 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.