Raiffeisen Bank International AG Raises Position in Corning Incorporated $GLW

Raiffeisen Bank International AG increased its stake in Corning Incorporated (NYSE:GLW) by 198.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 222,293 shares of the electronics maker’s stock after buying an additional 147,747 shares during the quarter. Raiffeisen Bank International AG’s holdings in Corning were worth $56,838,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Brighton Jones LLC lifted its position in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in Corning during the 1st quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after purchasing an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Corning during the 2nd quarter worth $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in Corning in the 2nd quarter worth $266,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Wendell 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 sale, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is currently owned by insiders.

Corning Stock Performance

Shares of GLW stock opened at $146.00 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a one year low of $69.39 and a one year high of $271.78. The company’s 50-day simple moving average is $166.12 and its 200-day simple moving average is $165.25. The stock has a market capitalization of $125.76 billion, a price-to-earnings ratio of 66.67, a PEG ratio of 1.84 and a beta of 1.16.

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

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio (DPR) is presently 51.14%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on GLW shares. Truist Financial upgraded 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 research note on Sunday, August 2nd. JPMorgan Chase & Co. lowered their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Citigroup cut their target price on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Finally, Mizuho reduced their target price on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $174.08.

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.