Korea Investment CORP Purchases 531,752 Shares of Corning Incorporated $GLW

Korea Investment CORP raised its position in Corning Incorporated (NYSE:GLW) by 109.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,016,375 shares of the electronics maker’s stock after purchasing an additional 531,752 shares during the quarter. Korea Investment CORP owned 0.12% of Corning worth $88,994,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the company. Pinpoint Asset Management Singapore Pte. Ltd. raised its position in Corning by 40.5% in the fourth quarter. Pinpoint Asset Management Singapore Pte. Ltd. now owns 434 shares of the electronics maker’s stock valued at $38,000 after purchasing an additional 125 shares during the last quarter. Wealthspire Advisors LLC raised its position in Corning by 132.5% in the fourth quarter. Wealthspire Advisors LLC now owns 13,514 shares of the electronics maker’s stock valued at $1,183,000 after purchasing an additional 7,701 shares during the last quarter. Allianz SE raised its position in Corning by 1.3% in the fourth quarter. Allianz SE now owns 20,788 shares of the electronics maker’s stock valued at $1,820,000 after purchasing an additional 258 shares during the last quarter. Macquarie Group Ltd. raised its position in Corning by 48.5% in the fourth quarter. Macquarie Group Ltd. now owns 175,066 shares of the electronics maker’s stock valued at $15,329,000 after purchasing an additional 57,163 shares during the last quarter. Finally, Summit Financial LLC raised its position in Corning by 16.8% in the fourth quarter. Summit Financial LLC now owns 22,593 shares of the electronics maker’s stock valued at $1,978,000 after purchasing an additional 3,251 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on GLW shares. Mizuho increased their target price on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Bank of America increased their target price on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. raised their price objective on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Oppenheimer raised their price objective on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Finally, Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average price target of $178.31.

Corning Price Performance

Shares of GLW opened at $179.85 on Friday. Corning Incorporated has a 1 year low of $49.47 and a 1 year high of $211.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The company has a market capitalization of $154.79 billion, a price-to-earnings ratio of 86.05, a price-to-earnings-growth ratio of 2.53 and a beta of 1.15. The business has a 50-day moving average of $177.15 and a 200-day moving average of $133.67.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the company earned $0.54 earnings per share. The firm’s revenue 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, equities research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

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

Insiders Place Their Bets

In other Corning news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock valued at $30,692,561 in the last 90 days. Company insiders own 0.25% of the company’s stock.

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.