B. Metzler seel. Sohn & Co. AG Boosts Holdings in Corning Incorporated $GLW

Key Points

• B. Metzler seel. Sohn & Co. AG has significantly increased its stake in Corning Incorporated by 104.2%, now owning 69,285 shares worth approximately $3.17 million.
• Corning's shares opened at $68.92, with a 52-week range of $37.31 to $69.29, reflecting strong market interest and performance.
• The company announced a quarterly dividend of $0.28 per share, representing an annual yield of 1.6%, despite a high dividend payout ratio of 119.15%.

B. Metzler seel. Sohn & Co. AG grew its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 104.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 69,285 shares of the electronics maker's stock after acquiring an additional 35,353 shares during the quarter. B. Metzler seel. Sohn & Co. AG's holdings in Corning were worth $3,172,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Vermillion Wealth Management Inc. bought a new position in shares of Corning in the fourth quarter worth approximately $29,000. Putney Financial Group LLC bought a new position in shares of Corning in the fourth quarter worth approximately $30,000. Investment Management Corp VA ADV grew its holdings in shares of Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in shares of Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after purchasing an additional 353 shares during the last quarter. Finally, Gen Wealth Partners Inc grew its holdings in shares of Corning by 151.7% in the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock worth $35,000 after purchasing an additional 455 shares during the last quarter. Institutional investors own 69.80% of the company's stock.

Corning Stock Up 1.8%

Shares of GLW stock traded up $1.21 during mid-day trading on Wednesday, reaching $69.68. 2,480,643 shares of the company's stock traded hands, compared to its average volume of 5,618,477. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $69.73. The company has a market cap of $59.69 billion, a P/E ratio of 74.15, a P/E/G ratio of 1.50 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The company's 50-day moving average price is $59.50 and its 200-day moving average price is $51.31.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.84 billion. During the same quarter in the previous year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Stockholders of record on Friday, August 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 29th. Corning's payout ratio is currently 119.15%.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on GLW shares. Citigroup raised their target price on shares of Corning from $52.00 to $60.00 and gave the stock a "buy" rating in a report on Friday, July 11th. UBS Group upgraded shares of Corning from a "neutral" rating to a "buy" rating and lifted their price target for the company from $65.00 to $84.00 in a report on Tuesday. JPMorgan Chase & Co. lifted their price target on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Wolfe Research started coverage on shares of Corning in a report on Tuesday, July 8th. They issued an "outperform" rating on the stock. Finally, Barclays lifted their price target on shares of Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Corning has a consensus rating of "Moderate Buy" and an average price target of $66.75.

Insider Transactions at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the completion of the transaction, the executive vice president owned 39,759 shares of the company's stock, valued at $2,473,804.98. The trade was a 29.51% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward A. Schlesinger sold 14,082 shares of Corning stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.28, for a total value of $877,026.96. Following the completion of the transaction, the chief financial officer directly owned 78,316 shares of the company's stock, valued at approximately $4,877,520.48. This represents a 15.24% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,950 shares of company stock worth $10,449,192 over the last quarter. Corporate insiders own 0.32% of the company's stock.

Corning 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.