CORDA Investment Management LLC. Takes $80.03 Million Position in Corning Incorporated $GLW

CORDA Investment Management LLC. bought a new stake in Corning Incorporated (NYSE:GLW) in the 2nd quarter, according to its most recent filing with the SEC. The fund bought 313,327 shares of the electronics maker’s stock, valued at approximately $80,033,000. Corning accounts for 4.9% of CORDA Investment Management LLC.’s investment portfolio, making the stock its largest holding.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in GLW. Berbice Capital Management LLC purchased a new position in Corning in the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning during the 4th quarter valued at about $26,000. Atwood & Palmer Inc. acquired a new stake in shares of Corning during the 2nd quarter valued at about $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Corning in the 4th quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in Corning in the 4th quarter worth about $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insiders Place Their Bets

In other news, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction on 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 completion of the transaction, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on 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 sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by corporate insiders.

Corning Price Performance

Shares of GLW stock opened at $165.85 on Friday. The company has a market capitalization of $142.86 billion, a PE ratio of 75.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The firm’s 50-day moving average is $176.82 and its two-hundred day moving average is $161.45. Corning Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts predict that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is 51.14%.

Analyst Ratings Changes

Several analysts have commented on the company. UBS Group reissued a “buy” rating and issued a $196.00 price objective on shares of Corning in a report on Wednesday, July 29th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and reduced their target price for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Morgan Stanley decreased their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, Barclays dropped their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Eleven analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

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.