ABN Amro Investment Solutions Invests $3.39 Million in Corning Incorporated $GLW

Key Points

• ABN Amro Investment Solutions disclosed a new fourth-quarter stake in Corning, buying 38,681 shares worth about $3.39 million.
• Several analysts recently raised their price targets on Corning, and the stock now carries a Moderate Buy consensus with an average target of $177.92.
• Corning reported better-than-expected quarterly results, including $0.70 EPS on $4.35 billion in revenue, and also announced a quarterly dividend of $0.28 per share.

ABN Amro Investment Solutions bought a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 38,681 shares of the electronics maker's stock, valued at approximately $3,387,000.

Several other institutional investors also recently bought and sold shares of the stock. Rathbones Group PLC boosted its holdings in Corning by 4.7% during the 4th quarter. Rathbones Group PLC now owns 7,385 shares of the electronics maker's stock valued at $647,000 after acquiring an additional 330 shares during the period. Investment House LLC boosted its holdings in Corning by 0.3% during the 4th quarter. Investment House LLC now owns 51,815 shares of the electronics maker's stock valued at $4,537,000 after acquiring an additional 150 shares during the period. Banque Cantonale Vaudoise boosted its holdings in Corning by 32,613.2% during the 4th quarter. Banque Cantonale Vaudoise now owns 12,431 shares of the electronics maker's stock valued at $1,088,000 after acquiring an additional 12,393 shares during the period. Berbice Capital Management LLC purchased a new stake in Corning during the 4th quarter valued at about $26,000. Finally, Fideuram Intesa Sanpaolo Private Banking S.P.A. purchased a new stake in Corning during the 4th quarter valued at about $3,938,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several brokerages recently weighed in on GLW. Truist Financial increased their target price on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a report on Wednesday, April 29th. Barclays upped their price target on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a research report on Friday, May 8th. Zacks Research raised Corning from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. Finally, Mizuho upped their price target on Corning from $190.00 to $220.00 and gave the company an "outperform" rating in a research report on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $177.92.

Insiders Place Their Bets

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on 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 directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction 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 sale, the senior vice president owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 170,774 shares of company stock valued at $28,148,435. 0.25% of the stock is currently owned by company insiders.

Corning Stock Performance

Corning stock opened at $193.83 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $166.82 billion, a P/E ratio of 92.74, a PEG ratio of 2.75 and a beta of 1.14. The stock's 50 day moving average is $161.56 and its 200 day moving average is $123.01. Corning Incorporated has a twelve month low of $47.67 and a twelve month high of $211.79.

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

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. 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 currently 53.59%.

Corning 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.

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