Havemeyer Place LP Makes New $2.64 Million Investment in Corning Incorporated $GLW

Havemeyer Place LP purchased a new position in Corning Incorporated (NYSE:GLW) in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 30,191 shares of the electronics maker’s stock, valued at approximately $2,644,000.

A number of other institutional investors also recently made changes to their positions in GLW. Capital Research Global Investors acquired a new stake in shares of Corning during the 3rd quarter valued at approximately $907,164,000. Norges Bank acquired a new stake in shares of Corning during the 4th quarter valued at approximately $921,435,000. Wellington Management Group LLP raised its position in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after acquiring an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc raised its position 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 acquiring an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in shares of Corning during the 3rd quarter valued at approximately $185,221,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction 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 owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction 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 completion of the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders sold 60,655 shares of company stock worth $12,046,561. 0.25% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

GLW has been the topic of several analyst reports. Truist Financial increased their target price on Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Citigroup increased their target price on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research report on Saturday. Finally, HSBC reaffirmed a “buy” rating and issued a $135.00 target price on shares of Corning in a research report on Friday, February 13th. Ten research analysts have rated the stock with a Buy rating and six have assigned 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 price target of $178.31.

Corning Trading Down 10.2%

NYSE:GLW opened at $177.52 on Friday. Corning Incorporated has a 1 year low of $49.47 and a 1 year high of $211.79. The stock has a market cap of $152.78 billion, a price-to-earnings ratio of 84.94, a PEG ratio of 2.54 and a beta of 1.15. The business has a fifty day moving average of $173.00 and a 200-day moving average of $130.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning’s dividend payout ratio is presently 53.59%.

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.