10,523,469 Shares in Corning Incorporated $GLW Acquired by Norges Bank

Key Points

• Norges Bank disclosed a new fourth-quarter position in Corning, buying 10,523,469 shares worth about $921.4 million and representing roughly 1.23% of the company.
• Analysts remain constructive on Corning, with several firms raising price targets and the stock carrying a Moderate Buy consensus rating. In total, 10 analysts rate it Buy and 6 rate it Hold, with a consensus target price of $177.92.
• Corning reported strong quarterly results, beating earnings and revenue expectations, and it also announced a quarterly dividend of $0.28 per share. The company said Q2 2026 EPS guidance is $0.73 to $0.77.

Norges Bank bought a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 10,523,469 shares of the electronics maker's stock, valued at approximately $921,435,000. Norges Bank owned approximately 1.23% of Corning as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in Corning during the third quarter worth approximately $25,000. Berbice Capital Management LLC acquired a new position in Corning in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new stake in Corning in the 4th quarter worth approximately $26,000. Strengthening Families & Communities LLC purchased a new stake in Corning in the 3rd quarter worth approximately $27,000. Finally, Cornerstone Planning Group LLC lifted its position in Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock worth $30,000 after buying an additional 124 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Truist Financial increased their target price on shares of Corning from $125.00 to $149.00 and gave the stock a "hold" rating in a research report on Wednesday, April 29th. Bank of America increased their target price on shares of Corning from $155.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. Morgan Stanley set a $180.00 price target on shares of Corning in a report on Friday, May 8th. Finally, UBS Group raised their price target on shares of Corning from $179.00 to $223.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $177.92.

Insider Activity

In related news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. This trade represents a 43.89% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 60,655 shares of company stock worth $12,046,561. Insiders own 0.25% of the company's stock.

Corning Stock Down 0.9%

Corning stock opened at $181.37 on Friday. The company has a market capitalization of $156.09 billion, a P/E ratio of 86.78, a P/E/G ratio of 2.59 and a beta of 1.14. The firm's fifty day simple moving average is $167.47 and its 200-day simple moving average is $126.60. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1-year low of $48.88 and a 1-year high of $211.79.

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

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's dividend payout ratio (DPR) is 53.59%.

About Corning

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.