Evergreen Quality Fund GP Ltd. Takes $185.31 Million Position in Corning Incorporated $GLW

Evergreen Quality Fund GP Ltd. bought a new stake in Corning Incorporated (NYSE:GLW) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,116,400 shares of the electronics maker’s stock, valued at approximately $185,312,000. Corning makes up 3.7% of Evergreen Quality Fund GP Ltd.’s holdings, making the stock its 9th biggest position. Evergreen Quality Fund GP Ltd. owned about 0.25% of Corning as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC lifted its stake 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 acquiring an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new stake in shares of Corning in the 1st quarter valued at about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in Corning by 9.3% in the 1st 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 last quarter. Sivia Capital Partners LLC acquired a new stake in Corning in the 2nd quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in Corning in the 2nd quarter valued at about $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 1.4%

Shares of Corning stock opened at $174.98 on Thursday. The firm has a 50-day moving average of $179.09 and a 200-day moving average of $136.06. The stock has a market cap of $150.59 billion, a PE ratio of 83.72, a PEG ratio of 2.54 and a beta of 1.15. Corning Incorporated has a 52-week low of $49.97 and a 52-week high of $211.79. 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 (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the firm earned $0.54 earnings per share. Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s payout ratio is 53.59%.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,561 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Morgan Stanley set a $180.00 price target on Corning in a research report on Friday, May 8th. JPMorgan Chase & Co. boosted their target price on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Oppenheimer increased their price target on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Susquehanna upped their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Finally, Barclays increased their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, Corning has an average rating of “Moderate Buy” and a consensus target price of $178.31.

About Corning

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.