Corning Incorporated $GLW is Ardmore Road Asset Management LP’s Largest Position

Ardmore Road Asset Management LP raised its stake in Corning Incorporated (NYSE:GLW) by 137.8% in the first quarter, HoldingsChannel.com reports. The fund owned 600,000 shares of the electronics maker’s stock after purchasing an additional 347,648 shares during the quarter. Corning comprises approximately 5.4% of Ardmore Road Asset Management LP’s portfolio, making the stock its biggest position. Ardmore Road Asset Management LP’s holdings in Corning were worth $81,582,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Berbice Capital Management LLC purchased a new stake in Corning during the 4th quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning in the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning in the fourth quarter valued at approximately $27,000. Litman Gregory Wealth Management LLC purchased a new position in shares of Corning during the fourth quarter valued at approximately $31,000. Finally, Evolution Wealth Management Inc. lifted its stake in shares of Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after buying an additional 141 shares during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. UBS Group set a $243.00 target price on shares of Corning in a research note on Monday, July 6th. Mizuho increased their price target on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 1st. Susquehanna lifted their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Weiss Ratings cut shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Finally, Morgan Stanley set a $180.00 price objective on Corning in a report on Friday, May 8th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average price target of $194.69.

Corning Stock Down 0.1%

GLW opened at $146.57 on Monday. The firm has a 50 day moving average price of $188.01 and a 200 day moving average price of $155.61. The company has a market cap of $126.14 billion, a PE ratio of 70.13, a price-to-earnings-growth ratio of 1.93 and a beta of 1.09. Corning Incorporated has a 1 year low of $54.89 and a 1 year high of $271.78. 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 results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating 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 firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the company posted $0.54 earnings per share. 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. Sell-side analysts expect that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Announces Dividend

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 issued a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s payout ratio is presently 53.59%.

Insider Buying and Selling at Corning

In other Corning news, 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 transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 160,655 shares of company stock worth $30,692,560. Corporate insiders own 0.25% of the company’s stock.

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.