Corning Incorporated $GLW Shares Purchased by Banco Bilbao Vizcaya Argentaria S.A.

Key Points

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Banco Bilbao Vizcaya Argentaria S.A. raised its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 24.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 507,604 shares of the electronics maker's stock after buying an additional 100,508 shares during the period. Banco Bilbao Vizcaya Argentaria S.A. owned about 0.06% of Corning worth $23,256,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Quantbot Technologies LP bought a new position in Corning in the 1st quarter valued at $4,145,000. Cornerstone Select Advisors LLC grew its stake in Corning by 75.8% in the 1st quarter. Cornerstone Select Advisors LLC now owns 10,155 shares of the electronics maker's stock worth $465,000 after acquiring an additional 4,377 shares in the last quarter. Korea Investment CORP increased its position in shares of Corning by 0.6% during the first quarter. Korea Investment CORP now owns 593,403 shares of the electronics maker's stock worth $27,166,000 after acquiring an additional 3,503 shares during the period. Brooklyn Investment Group raised its stake in shares of Corning by 49.2% during the first quarter. Brooklyn Investment Group now owns 2,695 shares of the electronics maker's stock valued at $123,000 after acquiring an additional 889 shares in the last quarter. Finally, Versor Investments LP boosted its holdings in shares of Corning by 87.9% in the first quarter. Versor Investments LP now owns 26,286 shares of the electronics maker's stock valued at $1,203,000 after purchasing an additional 12,300 shares during the period. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Up 0.4%

Corning stock traded up $0.2760 during trading hours on Thursday, reaching $64.8760. The stock had a trading volume of 3,573,721 shares, compared to its average volume of 6,057,870. The company has a market cap of $55.57 billion, a price-to-earnings ratio of 69.02, a PEG ratio of 1.45 and a beta of 1.08. The business's 50 day moving average price is $56.83 and its 200-day moving average price is $50.51. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $66.50. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share 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 business had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.84 billion. During the same period last year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be paid a $0.28 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a yield of 1.7%. Corning's dividend payout ratio (DPR) is 119.15%.

Insiders Place Their Bets

In related news, CFO Edward A. Schlesinger sold 14,082 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total value of $877,026.96. Following the completion of the sale, the chief financial officer directly owned 78,316 shares in the company, valued at $4,877,520.48. This trade represents a 15.24% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Avery H. Nelson III sold 36,240 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the sale, the chief operating officer directly owned 64,838 shares in the company, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 211,484 shares of company stock valued at $12,813,804. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

GLW has been the topic of several research reports. Morgan Stanley set a $56.00 price objective on Corning and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Argus restated a "buy" rating and set a $68.00 price target on shares of Corning in a research note on Wednesday, July 30th. UBS Group lifted their price objective on Corning from $57.00 to $65.00 and gave the company a "neutral" rating in a report on Wednesday, August 6th. Wall Street Zen raised shares of Corning from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Oppenheimer reissued an "outperform" rating and set a $72.00 target price (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $65.17.

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.