ASR Vermogensbeheer N.V. Buys 29,973 Shares of Corning Incorporated $GLW

Key Points

• ASR Vermogensbeheer N.V. boosted its Corning stake by 56.7% in the fourth quarter, buying 29,973 additional shares and bringing its total to 82,839 shares worth about $7.25 million.
• Corning is drawing strong investor interest more broadly, with hedge funds and institutions holding about 69.8% of the stock and several large funds making major purchases in recent quarters.
• The company has benefited from upbeat fundamentals and sentiment: it beat recent earnings and revenue estimates, raised Q2 guidance, and is seeing excitement around a strategic Nvidia partnership tied to AI-related manufacturing growth.

ASR Vermogensbeheer N.V. increased its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 56.7% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 82,839 shares of the electronics maker's stock after buying an additional 29,973 shares during the period. ASR Vermogensbeheer N.V.'s holdings in Corning were worth $7,253,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Capital Research Global Investors bought a new stake in shares of Corning in the third quarter valued at approximately $907,164,000. WCM Investment Management LLC bought a new position in Corning in the 3rd quarter worth approximately $676,931,000. Wellington Management Group LLP grew its stake in Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock valued at $1,358,211,000 after buying an additional 3,848,540 shares in the last quarter. Polar Capital Holdings Plc grew its stake in Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock valued at $329,035,000 after buying an additional 2,348,125 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Corning during the 3rd quarter valued at $185,221,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Nvidia is funding Corning’s plant construction and taking an equity stake, signaling a long-term strategic partnership that could materially grow Corning’s AI-related manufacturing business. Nvidia funds construction of Corning plants, in addition to equity investment
• Positive Sentiment: Analysts have been raising price targets and keeping generally constructive ratings, with Citi, Oppenheimer, and others citing stronger growth prospects after Corning’s recent results and the Nvidia deal. Analysts Have Conflicting Sentiments on These Technology Companies: Coherent Corp (COHR), Corning (GLW) and Fortinet (FTNT)
• Neutral Sentiment: Corning is also drawing attention from media and commentators, including a Closing Bell appearance and bullish commentary from Jim Cramer, which may support sentiment but does not change fundamentals by itself. Corning Incorporated to ring the NYSE Closing Bell® on Thursday
• Neutral Sentiment: Some articles warn the stock may be getting extended after a huge one-year run, suggesting valuation risk could limit upside if AI enthusiasm cools. Is Corning (GLW) Getting Ahead Of Itself After A 311% One Year Surge?
• Negative Sentiment: JPMorgan’s relatively cautious view and neutral rating suggest some analysts still see limited near-term upside after the rally, even with the higher target. Corning price target raised by JPMorgan Chase & Co.

Corning Price Performance

GLW opened at $186.47 on Friday. The firm has a market cap of $160.48 billion, a PE ratio of 89.22, a P/E/G ratio of 2.58 and a beta of 1.14. The stock has a 50-day moving average price of $150.46 and a 200-day moving average price of $115.11. Corning Incorporated has a 1 year low of $44.83 and a 1 year high of $198.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

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

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning's payout ratio is 53.59%.

Wall Street Analyst Weigh In

A number of research firms have recently commented on GLW. HSBC reaffirmed a "buy" rating and issued a $135.00 price target on shares of Corning in a report on Friday, February 13th. Morgan Stanley set a $180.00 price objective on Corning in a report on Friday. Susquehanna lifted their target price on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. Weiss Ratings raised shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 17th. Finally, Citigroup raised their price objective on shares of Corning from $175.00 to $225.00 and gave the company a "buy" rating in a research report on Thursday. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $172.15.

Insider Activity

In other news, CEO Wendell P. Weeks sold 137,514 shares of the business's stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the transaction, the chief executive officer owned 750,585 shares of the company's stock, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Avery H. Nelson III sold 1,583 shares of Corning stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $128.74, for a total value of $203,795.42. Following the completion of the transaction, the chief operating officer owned 59,788 shares of the company's stock, valued at approximately $7,697,107.12. This represents a 2.58% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 177,256 shares of company stock worth $26,541,572. 0.25% of the stock is currently owned by insiders.

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.

Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW - Free Report).

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.