Kentucky Retirement Systems Buys 70,464 Shares of Corning Incorporated $GLW

Kentucky Retirement Systems lifted its position in Corning Incorporated (NYSE:GLW) by 143.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 119,483 shares of the electronics maker’s stock after purchasing an additional 70,464 shares during the period. Kentucky Retirement Systems’ holdings in Corning were worth $16,246,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of GLW. Berbice Capital Management LLC bought a new stake in Corning during the 4th quarter valued at $26,000. Basepoint Wealth LLC bought a new position in shares of Corning during the 4th quarter worth $26,000. Kemnay Advisory Services Inc. bought a new position in shares of Corning during the 4th quarter worth $27,000. Litman Gregory Wealth Management LLC purchased a new position in shares of Corning during the fourth quarter valued at $31,000. Finally, Evolution Wealth Management Inc. raised its holdings in shares of Corning by 58.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after acquiring an additional 141 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning reported second-quarter revenue of $4.74 billion, up 17% year over year, while core EPS rose 30% to $0.78, exceeding the $0.76 consensus estimate. Corning Q2 results
• Positive Sentiment: Optical Communications sales increased 32% to $2.07 billion, led by a 65% gain in Enterprise Networks as generative-AI products continued to grow rapidly. Solar sales also climbed 90%, supporting revenue, margins and free cash flow. Corning beats Q2 estimates
• Positive Sentiment: Management highlighted demand from AI data centers and its Springboard plan, which is intended to accelerate sales and profitability. Corning’s fiber products are benefiting from the shift toward higher-bandwidth data-center networks. GLW AI growth plan
• Neutral Sentiment: Citigroup maintained a Buy rating but reduced its price target from $240 to $220. JPMorgan lowered its target from $200 to $170 and kept a Neutral rating, indicating analysts still see potential upside but have moderated expectations. Analyst target changes
• Negative Sentiment: Third-quarter revenue guidance of $4.9 billion to $5.0 billion was viewed as roughly in line with, rather than above, Wall Street’s $5.0 billion expectation. Although EPS guidance of $0.85-$0.89 exceeded the consensus midpoint, investors wanted a stronger outlook after the stock’s prior AI-driven rally. Corning guidance reaction
• Negative Sentiment: The guidance disappointment triggered a broad selloff in optical and AI infrastructure stocks. Analysts and market commentators also cited valuation concerns and a possible rotation away from recent AI winners, making the earnings beat insufficient to support the share price. Corning AI trade and guidance

Insider Activity

In related news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on GLW shares. Truist Financial upped their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, July 24th. Oppenheimer lowered their price target on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday. Susquehanna increased their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Finally, Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Nine investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $176.38.

Corning Trading Down 1.5%

Shares of NYSE GLW opened at $124.06 on Thursday. Corning Incorporated has a 1-year low of $61.44 and a 1-year high of $271.78. The business has a fifty day moving average price of $185.16 and a 200 day moving average price of $156.53. The stock has a market capitalization of $106.77 billion, a P/E ratio of 56.65, a price-to-earnings-growth ratio of 1.66 and a beta of 1.09. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.06.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts expect that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given 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 dividend yield of 0.9%. Corning’s payout ratio is presently 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.