Mediolanum International Funds Ltd Takes $11.55 Million Position in Corning Incorporated $GLW

Mediolanum International Funds Ltd bought a new position in Corning Incorporated (NYSE:GLW) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor bought 89,816 shares of the electronics maker’s stock, valued at approximately $11,546,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in shares of Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after purchasing an additional 580,678 shares during the last quarter. State Street Corp grew its stake in shares of Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares during the last quarter. Geode Capital Management LLC increased its position in Corning by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after buying an additional 517,067 shares in the last quarter. Capital Research Global Investors increased its position in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after buying an additional 5,831,873 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were 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 directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by corporate insiders.

Corning Stock Performance

Shares of GLW opened at $154.47 on Monday. The firm has a market capitalization of $132.94 billion, a P/E ratio of 73.91, a PEG ratio of 2.03 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a one year low of $53.29 and a one year high of $271.78. The business has a fifty day moving average of $192.81 and a 200 day moving average of $153.30.

Corning (NYSE:GLW) last posted its 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. The company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. 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 3.18 EPS for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is 53.59%.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on GLW. Oppenheimer increased their target price on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Susquehanna upped their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Saturday. Finally, Mizuho lifted their target price on shares of Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $194.69.

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.