Teacher Retirement System of Texas Acquires 54,508 Shares of Corning Incorporated $GLW

Teacher Retirement System of Texas lifted its stake in Corning Incorporated (NYSE:GLW) by 25.0% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 272,625 shares of the electronics maker’s stock after purchasing an additional 54,508 shares during the period. Teacher Retirement System of Texas’ holdings in Corning were worth $14,337,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of GLW. Davis Investment Partners LLC purchased a new stake in shares of Corning in the second quarter worth about $251,000. Central Pacific Bank Trust Division grew its stake in Corning by 23.6% in the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after acquiring an additional 13,920 shares in the last quarter. Strs Ohio purchased a new position in Corning during the 1st quarter worth $27,219,000. Acadian Asset Management LLC raised its holdings in shares of Corning by 4,346.5% in the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after acquiring an additional 150,521 shares in the last quarter. Finally, Nordea Investment Management AB lifted its position in shares of Corning by 8.0% in the 2nd quarter. Nordea Investment Management AB now owns 70,651 shares of the electronics maker’s stock worth $3,731,000 after purchasing an additional 5,227 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Corning Trading Down 3.2%

NYSE GLW opened at $86.53 on Wednesday. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $89.77. The stock has a market capitalization of $74.12 billion, a PE ratio of 92.05, a price-to-earnings-growth ratio of 2.00 and a beta of 1.14. The firm has a 50 day moving average of $78.28 and a two-hundred day moving average of $60.97.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Corning had a net margin of 5.77% and a return on equity of 17.27%. The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The firm’s revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s payout ratio is 119.15%.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on GLW shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a report on Wednesday, October 8th. UBS Group raised their price target on shares of Corning from $84.00 to $91.00 and gave the company a “buy” rating in a research report on Tuesday, September 23rd. Susquehanna reissued a “positive” rating and issued a $75.00 price objective (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. Citigroup upped their price target on shares of Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Finally, Morgan Stanley increased their target price on shares of Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday, October 10th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at $6,847,563.96. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the transaction, the chief executive officer directly owned 809,295 shares in the company, valued at $52,757,941.05. This trade represents a 9.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders own 0.32% of the company’s stock.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.