Meiji Yasuda Asset Management Co Ltd. Buys Shares of 4,778 Corning Incorporated $GLW

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,778 shares of the electronics maker’s stock, valued at approximately $1,220,000.

Several other hedge funds have also made changes to their positions in the business. Vanguard Group Inc. boosted its position in Corning by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after buying an additional 580,678 shares during the period. State Street Corp increased its position in shares of Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after acquiring an additional 439,883 shares during the period. Geode Capital Management LLC raised its stake in shares of Corning by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after acquiring an additional 517,067 shares in the last quarter. Capital Research Global Investors raised its stake in shares of Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares in the last quarter. Finally, Ameriprise Financial Inc. boosted its holdings in Corning by 8.1% in the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after purchasing an additional 1,036,988 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on GLW shares. Mizuho lowered their target price on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday. UBS Group reissued a “buy” rating and set a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. Morgan Stanley cut their target price 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, Susquehanna raised their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Performance

NYSE:GLW opened at $145.19 on Tuesday. Corning Incorporated has a 12 month low of $65.75 and a 12 month high of $271.78. 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 has a market capitalization of $125.07 billion, a PE ratio of 66.30, a price-to-earnings-growth ratio of 1.92 and a beta of 1.14. The business’s fifty day moving average price is $174.00 and its 200 day moving average price is $163.95.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The company 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 previous year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts anticipate that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the company’s 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 completion of the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.25% of the stock is owned by company insiders.

Corning Company 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.