Corning Incorporated $GLW Shares Purchased by KBC Group NV

Key Points

• KBC Group NV increased its stake in Corning by 5.4% in the first quarter, adding 72,363 shares and bringing its total holdings to 1,420,527 shares valued at about $193.1 million.
• Corning reported better-than-expected quarterly results, with EPS of $0.70 and revenue of $4.34 billion, both slightly above analyst forecasts. The company also raised its Q2 2026 guidance to $0.73-$0.77 EPS.
• The company declared a quarterly dividend of $0.28 per share, while analysts currently rate the stock a Moderate Buy with a consensus price target of $194.69.

KBC Group NV increased its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 5.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 1,420,527 shares of the electronics maker's stock after buying an additional 72,363 shares during the period. KBC Group NV owned 0.17% of Corning worth $193,148,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Corning by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock worth $8,693,247,000 after acquiring an additional 580,678 shares during the period. State Street Corp grew its position in shares of Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after acquiring an additional 439,883 shares during the period. Geode Capital Management LLC grew its position in shares of Corning by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock valued at $1,781,250,000 after acquiring an additional 517,067 shares during the period. Capital Research Global Investors increased its stake in shares of Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock valued at $724,432,000 after purchasing an additional 1,036,988 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Trading Down 0.1%

Shares of Corning stock opened at $154.47 on Monday. The firm has a market capitalization of $132.94 billion, a PE ratio of 73.91, a P/E/G ratio of 2.03 and a beta of 1.09. Corning Incorporated has a twelve month low of $53.29 and a twelve month high of $271.78. The firm's 50-day moving average price is $192.81 and its 200 day moving average price is $153.30. 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 posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the business earned $0.54 EPS. Corning'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. On average, sell-side analysts predict that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning's payout ratio is currently 53.59%.

Analyst Ratings Changes

A number of research firms recently weighed in on GLW. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corning in a report on Friday, May 15th. Morgan Stanley set a $180.00 price objective on Corning in a report on Friday, May 8th. Zacks Research cut Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Mizuho upped their target price on Corning from $220.00 to $270.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Finally, Susquehanna increased their target price on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a research report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $194.69.

Insider Activity

In related news, SVP Jaymin Amin sold 27,395 shares of the business's stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 160,655 shares of company stock valued at $30,692,560 in the last three months. Company insiders own 0.25% of the company's stock.

Corning Company Profile

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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