Weiss Asset Management LP Buys New Position in Corning Incorporated $GLW

Weiss Asset Management LP bought a new stake in shares of Corning Incorporated (NYSE:GLW) in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 92,700 shares of the electronics maker’s stock, valued at approximately $12,604,000.

Several other institutional investors have also added to or reduced their stakes in GLW. Berbice Capital Management LLC purchased a new position in shares of Corning during the 4th quarter worth $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning in the 4th quarter worth $26,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Corning in the 4th quarter worth $27,000. Litman Gregory Wealth Management LLC bought a new position in Corning in the 4th quarter worth $31,000. Finally, Evolution Wealth Management Inc. raised its holdings in Corning by 58.8% in the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 141 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings lowered Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Mizuho lifted their price objective on Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Bank of America boosted their price objective on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, Barclays increased their target price on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Nine analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $194.69.

Insider Activity at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock worth $30,692,560 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Corning Trading Down 6.1%

Shares of Corning stock opened at $146.57 on Friday. The company has a market capitalization of $126.14 billion, a P/E ratio of 70.13, a P/E/G ratio of 1.93 and a beta of 1.09. 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 company has a fifty day moving average of $188.01 and a 200 day moving average of $155.14. Corning Incorporated has a fifty-two week low of $54.89 and a fifty-two week high of $271.78.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts anticipate that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Dividend Announcement

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 given 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 dividend payout ratio (DPR) is currently 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.