WT Asset Management Ltd Makes New Investment in Corning Incorporated $GLW

WT Asset Management Ltd purchased a new stake in Corning Incorporated (NYSE:GLW) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 100,000 shares of the electronics maker’s stock, valued at approximately $8,203,000. Corning makes up 0.4% of WT Asset Management Ltd’s holdings, making the stock its 26th largest position.

Several other large investors also recently modified their holdings of the stock. CVA Family Office LLC lifted its position in Corning by 10.3% during the third quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker’s stock worth $98,000 after purchasing an additional 111 shares during the period. Vista Investment Partners LLC raised its position in shares of Corning by 1.3% in the 3rd quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker’s stock valued at $779,000 after buying an additional 119 shares in the last quarter. Sapient Capital LLC lifted its holdings in shares of Corning by 2.2% during the 3rd quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker’s stock worth $452,000 after acquiring an additional 120 shares during the period. Sivia Capital Partners LLC increased its stake in Corning by 1.6% in the third quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker’s stock valued at $635,000 after acquiring an additional 124 shares during the last quarter. Finally, Cornerstone Planning Group LLC raised its position in Corning by 58.5% during the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 124 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of research analyst reports. Oppenheimer set a $120.00 target price on Corning in a report on Thursday, January 29th. JPMorgan Chase & Co. boosted their target price on Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Fox Advisors downgraded shares of Corning from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 29th. Argus upped their price objective on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Finally, Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday. Eleven investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $114.25.

Insider Activity

In other news, COO Avery H. Nelson III sold 6,262 shares of Corning stock in a transaction on Monday, February 9th. The shares were sold at an average price of $129.79, for a total value of $812,744.98. Following the completion of the sale, the chief operating officer owned 61,371 shares in the company, valued at $7,965,342.09. The trade was a 9.26% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Eric S. Musser sold 25,000 shares of the stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the transaction, the insider directly owned 19,926 shares in the company, valued at approximately $2,191,860. This represents a 55.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 95,687 shares of company stock worth $11,249,008. Company insiders own 0.40% of the company’s stock.

Corning Trading Up 6.5%

Shares of NYSE GLW traded up $8.39 during trading on Friday, reaching $138.38. The company had a trading volume of 1,575,494 shares, compared to its average volume of 9,012,166. The company’s fifty day moving average price is $100.80 and its 200-day moving average price is $86.62. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The stock has a market cap of $118.72 billion, a P/E ratio of 75.11, a PEG ratio of 2.29 and a beta of 1.13. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $137.73.

Corning (NYSE:GLW) last issued its quarterly 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. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

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

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.