Rakuten Securities Inc. Takes $1.23 Million Position in Corning Incorporated $GLW

Rakuten Securities Inc. bought a new stake in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 4,803 shares of the electronics maker’s stock, valued at approximately $1,227,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank purchased a new position in Corning in the fourth quarter valued at about $921,435,000. Bank of New York Mellon Corp purchased a new stake in shares of Corning in the second quarter worth about $1,510,911,000. Capital Research Global Investors boosted its position in shares of Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares during the period. Deutsche Bank AG acquired a new stake in shares of Corning in the second quarter valued at about $612,763,000. Finally, Polar Capital Holdings Plc raised its holdings in shares of 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 buying an additional 2,348,125 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Trading Down 1.0%

NYSE GLW opened at $149.91 on Friday. The company has a market capitalization of $129.13 billion, a price-to-earnings ratio of 68.45, a price-to-earnings-growth ratio of 1.94 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a 12 month low of $65.09 and a 12 month high of $271.78. The company’s fifty day moving average price is $174.83 and its two-hundred day moving average price is $163.35.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company’s revenue was up 17.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Insider Buying and Selling

In other 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

GLW has been the topic of several recent research reports. Citigroup reduced their price target on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Susquehanna lifted their price objective 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. Bank of America boosted their target price on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. Barclays decreased their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Finally, Oppenheimer cut their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

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.