UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Has $1.36 Billion Stock Position in Corning Incorporated $GLW

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lowered its position in Corning Incorporated (NYSE:GLW) by 3.8% during the second quarter, HoldingsChannel.com reports. The firm owned 5,323,016 shares of the electronics maker’s stock after selling 209,078 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Corning were worth $1,359,658,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of GLW. Berbice Capital Management LLC acquired a new stake in shares of Corning during the 4th quarter valued at about $26,000. Basepoint Wealth LLC acquired a new position in Corning in the fourth quarter worth approximately $26,000. Atwood & Palmer Inc. bought a new position in Corning during the second quarter valued at approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning in the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in Corning in the fourth quarter worth approximately $31,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities analysts have commented on GLW shares. Citigroup lowered their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. UBS Group reiterated a “buy” rating and set a $196.00 price target on shares of Corning in a research note on Wednesday, July 29th. Barclays lowered their price objective on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Morgan Stanley cut their price objective on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and reduced their target price for the stock 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 issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Down 2.6%

Corning stock opened at $148.87 on Friday. 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 fifty-two week low of $66.14 and a fifty-two week high of $271.78. The firm has a fifty day moving average price of $171.18 and a two-hundred day moving average price of $164.60. The firm has a market cap of $128.23 billion, a price-to-earnings ratio of 67.98, a P/E/G ratio of 1.91 and a beta of 1.14.

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

Corning Announces Dividend

The firm 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 $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is 51.14%.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning 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 transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.25% of the stock is owned by company insiders.

Corning Company 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.