Public Sector Pension Investment Board Boosts Holdings in Corning Incorporated $GLW

Public Sector Pension Investment Board raised its stake in shares of Corning Incorporated (NYSE:GLW) by 14.9% in the third quarter, according to its most recent 13F filing with the SEC. The fund owned 78,367 shares of the electronics maker’s stock after buying an additional 10,135 shares during the period. Public Sector Pension Investment Board’s holdings in Corning were worth $6,428,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. Norges Bank purchased a new stake in Corning during the second quarter worth $534,936,000. WCM Investment Management LLC acquired a new position in Corning during the third quarter worth $676,931,000. Voya Investment Management LLC lifted its holdings in Corning by 748.0% during the third quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock valued at $260,014,000 after purchasing an additional 2,795,948 shares in the last quarter. Raymond James Financial Inc. grew its position in shares of Corning by 93.0% in the second quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock valued at $179,206,000 after purchasing an additional 1,641,558 shares during the period. Finally, Vanguard Group Inc. increased its stake in shares of Corning by 1.6% during the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after purchasing an additional 1,582,895 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In related news, EVP Lewis A. Steverson sold 15,366 shares of Corning stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the completion of the transaction, the executive vice president directly owned 3,461 shares of the company’s stock, valued at approximately $450,691.42. The trade was a 81.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Eric S. Musser sold 15,000 shares of the stock in a transaction on Monday, February 9th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the sale, the insider owned 4,926 shares in the company, valued at approximately $641,611.50. This trade represents a 75.28% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 95,687 shares of company stock worth $11,249,008 over the last 90 days. Company insiders own 0.40% of the company’s stock.

Corning Trading Up 1.3%

Shares of NYSE GLW opened at $132.25 on Thursday. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $113.46 billion, a PE ratio of 71.88, a PEG ratio of 2.26 and a beta of 1.13. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $136.82. The stock has a fifty day simple moving average of $100.12 and a 200-day simple moving average of $86.32.

Corning (NYSE:GLW) last issued its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter last year, the company posted $0.57 EPS. The firm’s revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s payout ratio is presently 60.87%.

Analyst Ratings Changes

Several research analysts recently commented on the company. Oppenheimer set a $120.00 price objective on Corning in a research note on Thursday, January 29th. Morgan Stanley increased their target price on shares of Corning from $98.00 to $103.00 and gave the company an “equal weight” rating in a research report on Thursday, January 29th. JPMorgan Chase & Co. raised their price target on shares of Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Susquehanna boosted their price target on shares of Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Finally, Citigroup increased their price objective on shares of Corning from $102.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Eleven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $114.25.

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.