EFG International AG Makes New $942,000 Investment in Corning Incorporated $GLW

EFG International AG acquired a new position in shares of Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 3,688 shares of the electronics maker’s stock, valued at approximately $942,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. State Street Corp grew its holdings in Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after buying an additional 439,883 shares during the period. Geode Capital Management LLC lifted its holdings in shares of Corning by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after acquiring an additional 517,067 shares during the period. 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 acquiring an additional 5,831,873 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Corning by 8.1% in the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after acquiring an additional 1,036,988 shares during the last quarter. Finally, Norges Bank purchased a new stake in Corning in the fourth quarter valued at approximately $921,435,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction 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 transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Corning Stock Up 3.8%

Shares of Corning stock opened at $152.76 on Thursday. Corning Incorporated has a 1-year low of $66.14 and a 1-year high of $271.78. The business has a 50-day moving average of $172.96 and a 200-day moving average of $164.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The company has a market capitalization of $131.59 billion, a PE ratio of 69.75, a P/E/G ratio of 1.88 and a beta of 1.14.

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, equities analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

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

Wall Street Analyst Weigh In

Several equities analysts recently commented on GLW shares. Oppenheimer dropped their price target on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Susquehanna boosted 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. Mizuho dropped their price objective on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Weiss Ratings lowered Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Finally, Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus price target 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.