Adams Diversified Equity Fund Inc. Purchases New Holdings in Corning Incorporated $GLW

Adams Diversified Equity Fund Inc. acquired a new position in Corning Incorporated (NYSE:GLW) in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund acquired 36,300 shares of the electronics maker’s stock, valued at approximately $4,936,000.

Several other large investors have also recently bought and sold shares of the company. Capital Research Global Investors acquired a new stake in shares of Corning in the 3rd quarter valued at $907,164,000. Norges Bank bought a new stake in Corning during the 4th quarter worth about $921,435,000. Wellington Management Group LLP lifted 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 purchasing an additional 3,848,540 shares during the period. Polar Capital Holdings Plc lifted 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 purchasing an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its stake in shares of Corning by 102.1% in 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 purchasing an additional 2,304,676 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Down 2.2%

GLW opened at $223.00 on Friday. The firm’s fifty day moving average is $184.70 and its two-hundred day moving average is $141.72. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The firm has a market cap of $191.92 billion, a PE ratio of 106.70, a price-to-earnings-growth ratio of 3.16 and a beta of 1.15. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $230.50.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate 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 $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the business 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. Equities research analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is presently 53.59%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on GLW. Citigroup boosted their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Truist Financial lifted their target price on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday, June 22nd. UBS Group upped their target price on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Oppenheimer raised their price target on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.62.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 160,655 shares of company stock valued at $30,692,560. Insiders own 0.25% of the company’s stock.

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.