Corning Incorporated $GLW Shares Acquired by BI Asset Management Fondsmaeglerselskab A S

Key Points

• BI Asset Management increased its Corning stake by 93% in the fourth quarter, while institutional investors overall now own about 69.8% of the company’s shares.
• Corning reported better-than-expected Q1 results, with EPS of $0.70 and revenue of $4.35 billion, and it issued Q2 guidance of $0.73 to $0.77 EPS.
• The company also declared a quarterly dividend of $0.28 per share, while analysts currently rate the stock a “Moderate Buy” with an average price target of $178.31.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 93.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 128,486 shares of the electronics maker's stock after purchasing an additional 61,925 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S's holdings in Corning were worth $11,250,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning during the 3rd quarter worth $25,000. Berbice Capital Management LLC acquired a new position in Corning during the 4th quarter worth $26,000. Basepoint Wealth LLC acquired a new position in Corning during the 4th quarter worth $26,000. Evolution Wealth Management Inc. boosted its position in Corning by 58.8% during the 4th quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker's stock worth $33,000 after acquiring an additional 141 shares during the period. Finally, JPL Wealth Management LLC acquired a new position in Corning during the 3rd quarter worth $33,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Stock Down 10.2%

Shares of Corning stock opened at $177.52 on Friday. The stock's fifty day moving average is $173.00 and its 200-day moving average is $130.26. The firm has a market capitalization of $152.78 billion, a PE ratio of 84.94, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12-month low of $49.47 and a 12-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, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning's quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

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

Insiders Place Their Bets

In related news, SVP Jaymin Amin sold 27,395 shares of the company's stock in a transaction on 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 transaction, the senior vice president directly owned 94,400 shares of the company's stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 60,655 shares of company stock valued at $12,046,561 over the last ninety days. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have issued reports on GLW shares. Zacks Research lowered Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Oppenheimer boosted their price objective on Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Citigroup boosted their price objective on Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Mizuho boosted their price objective on Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a research note on Tuesday, May 12th. Finally, Wall Street Zen downgraded Corning from a "buy" rating to a "hold" rating in a research note on Saturday. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of "Moderate Buy" and an average target price of $178.31.

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.

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