Pallas Capital Advisors LLC Purchases Shares of 11,398 Corning Incorporated $GLW

Pallas Capital Advisors LLC acquired a new position in Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 11,398 shares of the electronics maker’s stock, valued at approximately $2,911,000.

Other large investors have also made changes to their positions in the company. Norges Bank bought a new stake in Corning during the 4th quarter valued at approximately $921,435,000. Bank of New York Mellon Corp bought a new position in Corning in the 2nd quarter worth approximately $1,510,911,000. Capital Research Global Investors lifted its holdings in shares of Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Deutsche Bank AG acquired a new position in shares of Corning during the second quarter worth approximately $612,763,000. Finally, Polar Capital Holdings Plc boosted its position in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after acquiring an additional 2,348,125 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

GLW opened at $173.29 on Tuesday. The stock’s 50 day simple moving average is $176.54 and its 200-day simple moving average is $162.37. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock has a market cap of $149.27 billion, a PE ratio of 79.13, a P/E/G ratio of 2.12 and a beta of 1.14. Corning Incorporated has a 1 year low of $63.37 and a 1 year high of $271.78.

Corning (NYSE:GLW) last issued its 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 firm had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same period last year, the business earned $0.60 earnings per share. Corning’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. Sell-side analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a $0.28 dividend. 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 0.6%. Corning’s payout ratio is presently 51.14%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on GLW shares. Mizuho lowered their price objective on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Truist Financial raised 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. JPMorgan Chase & Co. decreased their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley dropped 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, UBS Group reaffirmed a “buy” rating and set a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average target price of $174.08.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, 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 position. The disclosure for this sale is available in the SEC filing. Insiders own 0.25% 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.