WD Rutherford LLC Buys New Shares in Corning Incorporated $GLW

WD Rutherford LLC bought a new position in Corning Incorporated (NYSE:GLW) in the 1st quarter, Holdings Channel.com reports. The fund bought 2,637 shares of the electronics maker’s stock, valued at approximately $359,000.

A number of other institutional investors have also bought and sold shares of the business. Capital Research Global Investors purchased a new position in shares of Corning in the third quarter valued at about $907,164,000. Norges Bank purchased a new stake in shares of Corning during the fourth quarter worth about $921,435,000. Wellington Management Group LLP raised its stake in 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 purchasing an additional 3,848,540 shares during the period. Polar Capital Holdings Plc lifted its holdings in Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after purchasing an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership lifted its holdings in Corning by 102.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after purchasing an additional 2,304,676 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Down 13.6%

Shares of GLW opened at $220.72 on Thursday. The stock has a market capitalization of $189.96 billion, a PE ratio of 105.61, a P/E/G ratio of 3.65 and a beta of 1.09. The company’s fifty day moving average is $189.43 and its 200 day moving average is $145.27. 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 Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $271.78.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is presently 53.59%.

Insider Buying and Selling

In other news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on GLW shares. UBS Group increased their price objective on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Citigroup raised their target price on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Morgan Stanley set a $180.00 price target on shares of Corning in a report on Friday, May 8th. Finally, Bank of America boosted their price target on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.46.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Mizuho raised its price target on Corning to $270 from $220 and kept an outperform rating, signaling further upside from recent levels and reinforcing bullish sentiment around the stock. Mizuho raises Corning price target
• Positive Sentiment: Recent commentary highlights Corning’s strength in data center growth, which is supporting demand for its optical communications and specialty glass products and helping explain the stock’s move to record highs.
• Positive Sentiment: Corning’s addition to the Russell Growth indexes could broaden ownership among growth-focused funds and ETFs, potentially creating incremental demand for shares. Corning joins Russell Growth Indexes
• Positive Sentiment: Investors also remain focused on Corning’s recent dividend-related momentum and strong stock performance, which has kept the name on market screens for momentum and income buyers. Corning sets date for new dividend
• Neutral Sentiment: Analyst coverage updates and general commentary from recent market articles suggest Corning remains a closely watched large-cap technology materials name, but no major new operational change was disclosed in those notes. Analysts offer insights on Corning
• Negative Sentiment: Some recent coverage warns that after a steep multi-month advance, valuation and execution risks are increasing, which could limit near-term upside or trigger profit-taking.

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.