Rakuten Investment Management Inc. Makes New $1.93 Million Investment in Corning Incorporated $GLW

Rakuten Investment Management Inc. acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the 3rd quarter, according to its most recent disclosure with the SEC. The fund acquired 23,550 shares of the electronics maker’s stock, valued at approximately $1,932,000.

Several other institutional investors have also recently made changes to their positions in GLW. Vanguard Group Inc. boosted its position in shares of Corning by 1.6% during the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after purchasing an additional 1,582,895 shares in the last quarter. State Street Corp lifted its position in Corning by 1.4% during the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after buying an additional 509,013 shares during the period. Geode Capital Management LLC lifted its position in Corning by 0.6% during the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after buying an additional 112,739 shares during the period. Ameriprise Financial Inc. boosted its holdings in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Corning during the 2nd quarter valued at $534,936,000. Institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on GLW. Argus increased their price target on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Oppenheimer set a $100.00 target price on shares of Corning and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Friday. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, Citigroup raised their price objective on Corning from $99.00 to $102.00 and gave the company a “buy” rating in a research report on Monday, January 12th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $93.36.

Corning Price Performance

Shares of NYSE GLW opened at $93.37 on Friday. The firm has a market cap of $80.05 billion, a P/E ratio of 59.09, a PEG ratio of 1.65 and a beta of 1.13. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $96.64. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $87.63 and a 200 day moving average of $78.22.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company’s revenue was up 20.9% compared to the same quarter last year. During the same period last year, the business posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Eric S. Musser sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the sale, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This trade represents a 69.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Edward A. Schlesinger sold 20,893 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at $6,110,008.75. The trade was a 23.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 156,135 shares of company stock valued at $14,088,769 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

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.