Corning Incorporated $GLW Stock Holdings Boosted by Swedbank AB

Key Points

• Swedbank AB significantly increased its holdings in Corning Incorporated by 98.1% during the first quarter, acquiring 31,659 additional shares for a total valuation of approximately $2.93 million.
• Corning's stock has been rated positively by analysts, with price targets raised by several firms, including Mizuho and Citigroup, reflecting a consensus price target of $66.75 and an average rating of "Moderate Buy".
• Corning announced a quarterly dividend of $0.28 per share, with an annualized yield of 1.4%, highlighting its ongoing profitability, as the company reported better-than-expected earnings last quarter.

Swedbank AB boosted its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 98.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 63,946 shares of the electronics maker's stock after purchasing an additional 31,659 shares during the period. Swedbank AB's holdings in Corning were worth $2,927,000 at the end of the most recent reporting period.

A number of other large investors have also added to or reduced their stakes in GLW. Vermillion Wealth Management Inc. bought a new stake in Corning in the 4th quarter valued at about $29,000. Putney Financial Group LLC acquired a new position in Corning in the 4th quarter valued at $30,000. Investment Management Corp VA ADV boosted its holdings in Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after acquiring an additional 353 shares during the period. Finally, Banque Transatlantique SA bought a new position in Corning during the 1st quarter valued at about $34,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of Corning stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the transaction, the chief executive officer directly owned 809,295 shares of the company's stock, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Michael Paul O'day sold 14,879 shares of the company's stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the sale, the senior vice president directly owned 35,743 shares of the company's stock, valued at $2,228,933.48. The trade was a 29.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is owned by company insiders.

Corning Stock Down 0.1%

GLW stock traded down $0.05 during trading on Friday, reaching $79.57. 10,763,561 shares of the company traded hands, compared to its average volume of 9,169,782. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $79.98. The company has a market capitalization of $68.16 billion, a price-to-earnings ratio of 84.65, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The business has a 50 day simple moving average of $65.38 and a 200 day simple moving average of $53.50.

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

Corning Announces Dividend

The business also recently announced 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. This represents a $1.12 annualized dividend and a dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. Corning's dividend payout ratio (DPR) is 119.15%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Susquehanna reiterated a "positive" rating and issued a $75.00 price target (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. Mizuho boosted their price target on shares of Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a research report on Friday, August 8th. Wolfe Research assumed coverage on shares of Corning in a research note on Tuesday, July 8th. They set an "outperform" rating for the company. Citigroup increased their price target on shares of Corning from $52.00 to $60.00 and gave the company a "buy" rating in a research report on Friday, July 11th. Finally, Morgan Stanley set a $56.00 price target on shares of Corning and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. One research 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 stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $66.75.

About Corning

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.