OVERSEA CHINESE BANKING Corp Ltd Makes New $2.16 Million Investment in Corning Incorporated $GLW

OVERSEA CHINESE BANKING Corp Ltd bought a new stake in shares of Corning Incorporated (NYSE:GLW) in the second quarter, HoldingsChannel reports. The institutional investor bought 8,740 shares of the electronics maker’s stock, valued at approximately $2,162,000.

Several other hedge funds have also made changes to their positions in GLW. Brighton Jones LLC grew its position 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 in the last quarter. Retirement Planning Co of New England Inc. bought a new stake in shares of Corning in the first quarter valued at about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of 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 valued at $2,962,000 after acquiring an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Corning in the second quarter worth about $401,000. Finally, Schnieders Capital Management LLC. purchased a new stake in Corning in the second quarter worth about $266,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Corning news, 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 value of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.25% of the stock is currently owned by company insiders.

Corning Price Performance

Shares of GLW stock opened at $151.49 on Friday. The stock’s 50-day moving average is $175.43 and its 200 day moving average is $163.44. Corning Incorporated has a 1-year low of $64.33 and a 1-year high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The company has a market cap of $130.49 billion, a P/E ratio of 69.17, a PEG ratio of 1.95 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, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the firm 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 predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

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 given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s dividend payout ratio is presently 51.14%.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of research reports. Susquehanna raised their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and reduced their price target for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. UBS Group reaffirmed a “buy” rating and issued a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. JPMorgan Chase & Co. dropped their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Finally, Morgan Stanley cut 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. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

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.