WCM Investment Management LLC Purchases New Stake in Corning Incorporated $GLW

WCM Investment Management LLC purchased a new stake in shares of Corning Incorporated (NYSE:GLW) in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 8,434,229 shares of the electronics maker’s stock, valued at approximately $676,931,000. Corning makes up 1.4% of WCM Investment Management LLC’s investment portfolio, making the stock its 27th biggest position.

Other large investors have also recently made changes to their positions in the company. Mission Wealth Management LP grew its holdings in shares of Corning by 6.7% during the third quarter. Mission Wealth Management LP now owns 15,351 shares of the electronics maker’s stock valued at $1,259,000 after buying an additional 970 shares during the last quarter. Cooper Haims Advisors LLC lifted its position in Corning by 4.4% in the 3rd quarter. Cooper Haims Advisors LLC now owns 7,162 shares of the electronics maker’s stock valued at $587,000 after acquiring an additional 300 shares in the last quarter. Win Advisors Inc. acquired a new position in Corning during the 3rd quarter valued at about $479,000. Atlantic Union Bankshares Corp increased its holdings in Corning by 159.5% during the 3rd quarter. Atlantic Union Bankshares Corp now owns 79,900 shares of the electronics maker’s stock worth $6,554,000 after purchasing an additional 49,113 shares in the last quarter. Finally, Woodmont Investment Counsel LLC purchased a new stake in shares of Corning in the third quarter worth approximately $298,000. 69.80% of the stock is owned by institutional investors.

Insider Transactions at Corning

In other news, CFO Edward A. Schlesinger sold 21,104 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the sale, the chief financial officer owned 54,780 shares of the company’s stock, valued at $5,727,249. The trade was a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric S. Musser sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the sale, the insider owned 19,926 shares in the company, valued at $2,191,860. The trade was a 55.65% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 46,148 shares of company stock worth $4,960,928 over the last 90 days. 0.32% of the stock is currently owned by company insiders.

Corning Price Performance

Corning stock opened at $110.32 on Tuesday. The business’s 50 day simple moving average is $90.49 and its 200 day simple moving average is $80.75. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $113.99. The company has a market cap of $94.58 billion, a price-to-earnings ratio of 59.95, a PEG ratio of 1.79 and a beta of 1.13. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period last year, the business posted $0.57 earnings per share. The business’s revenue for the quarter was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Sell-side analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Analyst Ratings Changes

GLW has been the topic of several analyst reports. Citigroup lifted their target price on Corning from $102.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Barclays set a $100.00 target price on shares of Corning in a research note on Thursday. Oppenheimer set a $120.00 price target on shares of Corning in a research report on Thursday. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 27th. Finally, Susquehanna boosted their price objective on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Nine equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.36.

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.