Vista Investment Management Makes New $2.15 Million Investment in Corning Incorporated $GLW

Vista Investment Management bought a new position in Corning Incorporated (NYSE:GLW) in the 2nd quarter, HoldingsChannel reports. The fund bought 8,431 shares of the electronics maker’s stock, valued at approximately $2,154,000.

A number of other institutional investors have also made changes to their positions in GLW. Vanguard Group Inc. lifted its stake in Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after purchasing an additional 580,678 shares during the last quarter. State Street Corp increased its stake in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after purchasing an additional 439,883 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after purchasing an additional 517,067 shares during the period. Capital Research Global Investors raised its holdings in shares of Corning by 52.7% during 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 purchasing an additional 5,831,873 shares during the period. Finally, Ameriprise Financial Inc. lifted its position in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after buying an additional 1,036,988 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Wendell P. Weeks sold 100,000 shares of the company’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 value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents 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 the SEC website. 0.25% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. 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 lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. Mizuho cut their target price on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. UBS Group restated a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Finally, Truist Financial raised Corning from a “hold” rating to a “buy” rating and lowered their target price for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Price Performance

Shares of Corning stock opened at $149.91 on Friday. The stock has a market cap of $129.13 billion, a PE ratio of 68.45, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. Corning Incorporated has a 52 week low of $65.09 and a 52 week high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The company’s 50-day moving average price is $174.83 and its two-hundred day moving average price is $163.35.

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

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders 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 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s payout ratio is currently 51.14%.

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.