CIBC Asset Management Inc Boosts Holdings in Corning Incorporated $GLW

Key Points

• CIBC Asset Management increased its Corning stake by 46.4% in the fourth quarter, buying 59,276 more shares and bringing its total holding to 186,933 shares worth about $16.4 million.
• Wall Street sentiment remains positive on Corning, with 10 analysts rating it a Buy and six a Hold; the consensus view is a Moderate Buy with a $177.92 target price.
• Corning recently beat quarterly expectations, reporting EPS of $0.70 on revenue of $4.35 billion, and it raised its Q2 2026 guidance; the company also announced a $0.28 quarterly dividend payable June 29.

CIBC Asset Management Inc lifted its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 46.4% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 186,933 shares of the electronics maker's stock after purchasing an additional 59,276 shares during the period. CIBC Asset Management Inc's holdings in Corning were worth $16,368,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GLW. Brighton Jones LLC grew its stake in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock worth $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in shares of Corning in the first quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its holdings in Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock valued at $2,962,000 after purchasing an additional 5,522 shares during the period. Sivia Capital Partners LLC acquired a new position in Corning during the 2nd quarter worth $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in Corning during the 2nd quarter worth $266,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on GLW. Truist Financial increased their price target on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research report on Wednesday, April 29th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Susquehanna boosted their price target on shares of Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a report on Wednesday, April 29th. HSBC restated a "buy" rating and issued a $135.00 price objective on shares of Corning in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. increased their target price on Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $177.92.

Corning Price Performance

GLW stock opened at $198.24 on Friday. The company has a market capitalization of $170.61 billion, a P/E ratio of 94.85, a PEG ratio of 2.87 and a beta of 1.15. Corning Incorporated has a twelve month low of $49.47 and a twelve month high of $211.79. The business has a 50 day simple moving average of $172.37 and a 200-day simple moving average of $129.93. 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 (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $4.30 billion. During the same period in the previous year, the company posted $0.54 EPS. The company's quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

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

Insider Buying and Selling at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the company's stock in a transaction dated 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 completion of the sale, the senior vice president directly owned 25,570 shares of the company's stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares of the company's stock, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 60,655 shares of company stock valued at $12,046,561. Company insiders own 0.25% of the company's stock.

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.

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.