Rakuten Investment Management Inc. Has $9.26 Million Stock Holdings in Corning Incorporated $GLW

Rakuten Investment Management Inc. raised its stake in Corning Incorporated (NYSE:GLW) by 341.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 104,057 shares of the electronics maker’s stock after buying an additional 80,507 shares during the period. Rakuten Investment Management Inc.’s holdings in Corning were worth $9,261,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the stock. 71 West Capital Partners acquired a new position in Corning in the fourth quarter valued at about $560,000. TritonPoint Partners LLC acquired a new position in Corning in the fourth quarter valued at about $268,000. Vanguard Personalized Indexing Management LLC lifted its stake in Corning by 6.7% in the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 147,284 shares of the electronics maker’s stock valued at $12,896,000 after buying an additional 9,278 shares during the period. Venture Visionary Partners LLC lifted its stake in Corning by 8.6% in the fourth quarter. Venture Visionary Partners LLC now owns 78,641 shares of the electronics maker’s stock valued at $7,131,000 after buying an additional 6,256 shares during the period. Finally, Panagora Asset Management Inc. lifted its stake in Corning by 73.9% in the fourth quarter. Panagora Asset Management Inc. now owns 15,664 shares of the electronics maker’s stock valued at $1,372,000 after buying an additional 6,659 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,561 over the last 90 days. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Barclays increased their target price on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Truist Financial increased their target price on Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research note on Wednesday, April 29th. Oppenheimer increased their target price on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Citigroup increased their target price on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. 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 a consensus target price of $178.31.

Corning Trading Down 5.6%

NYSE GLW opened at $177.34 on Wednesday. The firm has a market cap of $152.62 billion, a P/E ratio of 84.85, a P/E/G ratio of 2.69 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock’s 50-day moving average is $178.51 and its 200-day moving average is $135.42. Corning Incorporated has a one year low of $49.97 and a one year high of $211.79.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is currently 53.59%.

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.