Daiichi Life Insurance Co. Ltd. Purchases New Holdings in Corning Incorporated $GLW

Daiichi Life Insurance Co. Ltd. purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, Holdings Channel reports. The firm purchased 71,796 shares of the electronics maker’s stock, valued at approximately $18,339,000.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. Norges Bank acquired a new position in Corning in the 4th quarter valued at $921,435,000. Bank of New York Mellon Corp acquired a new stake in shares of Corning during the 2nd quarter worth $1,510,911,000. Capital Research Global Investors grew its holdings in shares of Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Deutsche Bank AG bought a new position in shares of Corning in the second quarter worth $612,763,000. Finally, Polar Capital Holdings Plc increased its position in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after purchasing an additional 2,348,125 shares during the period. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently commented on GLW shares. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “buy” rating in a research note on Sunday, August 16th. Weiss Ratings upgraded shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, August 7th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Susquehanna boosted their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Finally, Morgan Stanley cut their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average target price of $174.08.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated 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 transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.25% of the company’s stock.

Corning Trading Down 1.0%

Shares of GLW opened at $149.91 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. Corning Incorporated has a 52-week low of $65.09 and a 52-week high of $271.78. The firm has a market cap of $129.13 billion, a price-to-earnings ratio of 68.45, a PEG ratio of 1.92 and a beta of 1.14. The business’s fifty day moving average is $174.83 and its 200-day moving average is $163.35.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s revenue for the quarter was up 17.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts anticipate that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently announced 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s payout ratio is presently 51.14%.

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.