Corning Incorporated $GLW Shares Acquired by Fosun International Ltd

Fosun International Ltd increased its stake in shares of Corning Incorporated (NYSE:GLW) by 149.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,483 shares of the electronics maker’s stock after buying an additional 7,483 shares during the quarter. Corning comprises approximately 0.7% of Fosun International Ltd’s investment portfolio, making the stock its 18th biggest holding. Fosun International Ltd’s holdings in Corning were worth $3,189,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the company. Sigma Planning Corp raised its stake in shares of Corning by 7.2% in the second quarter. Sigma Planning Corp now owns 30,264 shares of the electronics maker’s stock worth $7,730,000 after purchasing an additional 2,033 shares during the last quarter. B & T Capital Management DBA Alpha Capital Management purchased a new position in Corning during the 2nd quarter worth approximately $337,000. Benjamin Edwards Inc. lifted its stake in Corning by 21.0% during the 2nd quarter. Benjamin Edwards Inc. now owns 84,392 shares of the electronics maker’s stock valued at $21,557,000 after acquiring an additional 14,650 shares during the period. GTS Securities LLC lifted its position in Corning by 42.9% during the second quarter. GTS Securities LLC now owns 5,854 shares of the electronics maker’s stock valued at $1,495,000 after purchasing an additional 1,758 shares during the period. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in shares of Corning by 84.4% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 198,332 shares of the electronics maker’s stock valued at $50,660,000 after buying an additional 90,785 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.25% of the stock is currently owned by company insiders.

Corning Stock Down 0.1%

Shares of NYSE GLW opened at $148.87 on Monday. The company has a market capitalization of $128.24 billion, a P/E ratio of 67.98, a P/E/G ratio of 1.91 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 company has a 50 day simple moving average of $171.18 and a 200-day simple moving average of $164.84. Corning Incorporated has a 1 year low of $66.14 and a 1 year high of $271.78.

Corning (NYSE:GLW) last released its quarterly earnings data 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 firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the firm posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is 51.14%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on GLW shares. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. JPMorgan Chase & Co. reduced their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Mizuho decreased their target price 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. UBS Group reaffirmed a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Finally, Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

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.