E Fund Management Co. Ltd. Buys Shares of 212,013 Corning Incorporated $GLW

E Fund Management Co. Ltd. purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 212,013 shares of the electronics maker’s stock, valued at approximately $54,154,000. Corning makes up about 1.2% of E Fund Management Co. Ltd.’s holdings, making the stock its 19th biggest position.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Brighton Jones LLC boosted its stake in Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new stake in shares of Corning in the 1st quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its stake in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Corning in the second quarter valued at $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in shares of Corning in the second quarter valued at $266,000. 69.80% of the stock is currently owned by institutional investors.

Corning Trading Down 4.6%

Corning stock opened at $152.52 on Thursday. Corning Incorporated has a 52 week low of $63.37 and a 52 week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The firm has a market capitalization of $131.38 billion, a price-to-earnings ratio of 69.64, a P/E/G ratio of 2.05 and a beta of 1.14. The company has a 50 day moving average price of $175.94 and a 200 day moving average price of $163.10.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts forecast that Corning Incorporated will post 3.27 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 given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is currently 51.14%.

Analysts Set New Price Targets

A number of research analysts recently issued reports on GLW shares. Wall Street Zen lowered Corning from a “strong-buy” rating to a “buy” rating in a report on Sunday. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and cut their price target for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. UBS Group restated a “buy” rating and set a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. Citigroup lowered their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Finally, Susquehanna increased their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. Based on data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Insider Activity 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 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 approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction that occurred on 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 of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their position. The SEC filing for this sale provides additional information. 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.