Jupiter Topco LLC Invests $564.65 Million in Corning Incorporated $GLW

Jupiter Topco LLC purchased a new stake in Corning Incorporated (NYSE:GLW) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 2,210,653 shares of the electronics maker’s stock, valued at approximately $564,654,000. Jupiter Topco LLC owned about 0.26% of Corning as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of GLW. J. Goldman & Co LP bought a new stake in shares of Corning during the second quarter worth approximately $422,000. ABS Investment Management LLC acquired a new position in Corning in the 2nd quarter valued at $664,118,000. EFG International AG bought a new position in Corning during the 2nd quarter worth $942,000. Ancora Advisors LLC acquired a new stake in shares of Corning during the second quarter worth $3,396,000. Finally, Delos Wealth Advisors LLC bought a new stake in shares of Corning in the second quarter valued at about $55,000. 69.80% of the stock is owned by institutional investors.

Corning Stock Performance

Shares of Corning stock opened at $147.45 on Wednesday. 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 company has a market cap of $127.01 billion, a PE ratio of 67.33, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14. The company has a 50 day moving average of $173.41 and a 200-day moving average of $164.22. Corning Incorporated has a 1-year low of $66.14 and a 1-year high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The business 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%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period last year, the firm posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities research analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The business 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 51.14%.

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

GLW has been the subject of several analyst reports. Oppenheimer dropped their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday. UBS Group reiterated a “buy” rating and issued a $196.00 price target on shares of Corning in a research note on Wednesday, July 29th. Mizuho reduced their price target on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Citigroup lowered their price objective on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average 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.