Varenne Capital Partners Invests $25.97 Million in Corning Incorporated $GLW

Varenne Capital Partners purchased a new stake in Corning Incorporated (NYSE:GLW) in the 3rd quarter, HoldingsChannel reports. The firm purchased 316,577 shares of the electronics maker’s stock, valued at approximately $25,969,000. Corning accounts for approximately 4.9% of Varenne Capital Partners’ investment portfolio, making the stock its 8th biggest position.

A number of other large investors also recently bought and sold shares of the business. Brighton Jones LLC grew its holdings in Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after purchasing an additional 2,114 shares during the period. Retirement Planning Co of New England Inc. purchased a new position in shares of Corning during the 1st quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Corning by 9.3% in the first 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 during the period. Sivia Capital Partners LLC purchased a new stake in shares of Corning during the second quarter worth about $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in shares of Corning during the 2nd quarter worth about $266,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on GLW shares. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. UBS Group lifted their price target on Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a research note on Friday, February 20th. Susquehanna boosted their price target on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Finally, Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.42.

Corning Stock Down 6.6%

Shares of NYSE:GLW opened at $147.40 on Wednesday. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $162.10. The stock has a market cap of $126.46 billion, a P/E ratio of 80.11, a PEG ratio of 2.73 and a beta of 1.05. The business has a fifty day moving average of $110.82 and a two-hundred day moving average of $91.74. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter in the previous year, the company posted $0.57 EPS. The company’s revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date is Friday, February 27th. Corning’s payout ratio is presently 60.87%.

Insiders Place Their Bets

In other news, EVP Lewis A. Steverson sold 15,366 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the completion of the sale, the executive vice president owned 3,461 shares in the company, valued at $450,691.42. This trade represents a 81.62% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Avery H. Nelson III sold 1,583 shares of Corning stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $128.74, for a total transaction of $203,795.42. Following the sale, the chief operating officer directly owned 59,788 shares in the company, valued at approximately $7,697,107.12. The trade was a 2.58% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 233,201 shares of company stock worth $32,614,558. 0.32% of the stock is currently 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.