138,589 Shares in Corning Incorporated $GLW Purchased by Flputnam Investment Management Co.

Flputnam Investment Management Co. bought a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 138,589 shares of the electronics maker’s stock, valued at approximately $35,400,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Brighton Jones LLC increased its holdings in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after buying an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new position in Corning in the first quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after acquiring an additional 5,522 shares during the period. Sivia Capital Partners LLC purchased a new position in Corning in the second quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in Corning during the second quarter worth $266,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Oppenheimer lowered their price target on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Truist Financial raised Corning from a “hold” rating to a “buy” rating and cut their price objective for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Morgan Stanley reduced their price objective on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Finally, Bank of America upped their target price on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Eleven research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Down 0.1%

NYSE:GLW opened at $165.85 on Monday. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock’s fifty day moving average is $176.82 and its two-hundred day moving average is $161.92. Corning Incorporated has a 52 week low of $63.37 and a 52 week high of $271.78. The stock has a market capitalization of $142.86 billion, a price-to-earnings ratio of 75.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period last year, the business posted $0.60 earnings per share. The company’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts anticipate that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 51.14%.

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.