IFM Investors Pty Ltd Purchases 11,263 Shares of Corning Incorporated $GLW

IFM Investors Pty Ltd lifted its position in shares of Corning Incorporated (NYSE:GLW) by 7.3% during the first quarter, Holdings Channel reports. The institutional investor owned 165,459 shares of the electronics maker’s stock after purchasing an additional 11,263 shares during the period. IFM Investors Pty Ltd’s holdings in Corning were worth $22,497,000 at the end of the most recent reporting period.

Several other hedge funds also recently bought and sold shares of GLW. Berbice Capital Management LLC purchased a new position in shares of Corning in the fourth quarter valued at about $26,000. Basepoint Wealth LLC purchased a new stake in shares of Corning during the fourth quarter worth about $26,000. MBM Wealth Consultants LLC purchased a new stake in shares of Corning during the first quarter worth about $42,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Corning during the 3rd quarter valued at approximately $25,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Corning during the 4th quarter valued at approximately $27,000. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

GLW has been the subject of several recent analyst reports. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. JPMorgan Chase & Co. boosted their target price on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Mizuho upped their target price on shares of Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Truist Financial lifted their price target on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $182.62.

Insider Activity

In other Corning news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by insiders.

Corning Stock Performance

NYSE GLW opened at $255.29 on Wednesday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a 1-year low of $51.32 and a 1-year high of $271.78. The business has a 50 day simple moving average of $188.32 and a two-hundred day simple moving average of $144.39. The stock has a market capitalization of $219.71 billion, a PE ratio of 122.15, a P/E/G ratio of 3.66 and a beta of 1.15.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.4%. Corning’s payout ratio is 53.59%.

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.