OMERS ADMINISTRATION Corp Takes $21.64 Million Position in Corning Incorporated $GLW

OMERS ADMINISTRATION Corp bought a new position in Corning Incorporated (NYSE:GLW) during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 84,725 shares of the electronics maker’s stock, valued at approximately $21,641,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Alliance Wealth Advisors LLC increased its stake in Corning by 1.4% in the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock worth $1,033,000 after acquiring an additional 56 shares during the last quarter. Ares Financial Consulting LLC boosted its position in shares of Corning by 15.6% during the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock valued at $113,000 after acquiring an additional 60 shares during the last quarter. Signature Equity Partners LLC grew its holdings in shares of Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after purchasing an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC grew its holdings in shares of Corning by 0.8% in the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after purchasing an additional 64 shares in the last quarter. Finally, Balefire LLC increased its position in Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock worth $1,305,000 after purchasing an additional 65 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Corning Trading Up 0.0%

Shares of GLW opened at $149.91 on Monday. The company’s fifty day simple moving average is $174.83 and its 200-day simple moving average is $163.72. The company has a market cap of $129.13 billion, a P/E ratio of 68.45, a P/E/G ratio of 1.92 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a twelve month low of $65.09 and a twelve month high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping 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 the consensus estimate of $4.63 billion. During the same quarter last year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts expect that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Analyst Upgrades and Downgrades

GLW has been the subject of several research reports. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and lowered their price objective for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Monday. Citigroup lowered their price target on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. JPMorgan Chase & Co. reduced their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Finally, Susquehanna upped their price objective on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $174.08.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.25% of the stock is currently owned by insiders.

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.