Varenne Capital Partners Acquires New Holdings in Corning Incorporated $GLW

Varenne Capital Partners bought a new stake in Corning Incorporated (NYSE:GLW) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 316,577 shares of the electronics maker’s stock, valued at approximately $25,969,000. Corning comprises about 4.9% of Varenne Capital Partners’ investment portfolio, making the stock its 8th largest holding.

Several other hedge funds have also modified their holdings of the company. Brighton Jones LLC raised its stake 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 acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. purchased a new position in Corning in the first quarter worth $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after purchasing an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Corning during the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. purchased a new stake in shares of Corning during the 2nd quarter valued at $266,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corning

In other news, SVP Li Fang sold 9,797 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total transaction of $1,112,057.47. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Edward A. Schlesinger sold 21,104 shares of Corning stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the transaction, the chief financial officer directly owned 54,780 shares of the company’s stock, valued at approximately $5,727,249. This trade represents a 27.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 233,201 shares of company stock valued at $32,614,558 in the last 90 days. 0.32% of the stock is currently owned by corporate insiders.

Corning Stock Down 6.6%

GLW stock opened at $147.40 on Wednesday. The company has a market capitalization of $126.46 billion, a P/E ratio of 80.11, a price-to-earnings-growth ratio of 2.73 and a beta of 1.05. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $162.10. The firm’s fifty day simple moving average is $110.82 and its 200-day simple moving average is $91.74. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04.

Corning (NYSE:GLW) last issued its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter last year, the company posted $0.57 earnings per share. The firm’s revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s dividend payout ratio is presently 60.87%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Susquehanna boosted their target price on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Citigroup raised their price target on Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 29th. HSBC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Corning in a research report on Friday, February 13th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $125.42.

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.