Corning Incorporated $GLW Shares Purchased by Simmons Bank

Key Points

• Simmons Bank increased its Corning stake by 109.6% in the first quarter, buying 7,745 additional shares and bringing its total holdings to 14,814 shares valued at about $2.0 million.
• Corning reported strong first-quarter results, with EPS of $0.70 beating estimates and revenue of $4.34 billion topping expectations; revenue also rose 18.1% year over year.
• The company announced a quarterly dividend of $0.28 per share, while analysts remain generally positive overall with a consensus rating of Moderate Buy and an average price target of $182.62.

Simmons Bank raised its position in Corning Incorporated (NYSE:GLW - Free Report) by 109.6% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 14,814 shares of the electronics maker's stock after acquiring an additional 7,745 shares during the quarter. Simmons Bank's holdings in Corning were worth $2,014,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Lansforsakringar Fondforvaltning AB publ grew its stake in shares of Corning by 2.4% during the first quarter. Lansforsakringar Fondforvaltning AB publ now owns 270,460 shares of the electronics maker's stock worth $36,774,000 after purchasing an additional 6,219 shares in the last quarter. Next Level Private LLC purchased a new stake in Corning during the 1st quarter worth about $385,000. Apollon Wealth Management LLC lifted its holdings in Corning by 37.4% during the 1st quarter. Apollon Wealth Management LLC now owns 272,591 shares of the electronics maker's stock worth $37,064,000 after buying an additional 74,198 shares during the last quarter. Patriot Financial Group Insurance Agency LLC acquired a new position in shares of Corning during the 1st quarter worth about $490,000. Finally, Financial Futures Ltd Liability Co. acquired a new position in shares of Corning during the 1st quarter worth about $220,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Stock Down 0.2%

Corning stock opened at $255.29 on Wednesday. The company has a market capitalization of $219.71 billion, a P/E ratio of 122.15, a PEG ratio of 3.66 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. Corning Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $271.78. The stock has a 50-day simple moving average of $188.32 and a 200-day simple moving average of $144.39.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm's quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.4%. Corning's dividend payout ratio (DPR) is 53.59%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GLW. Bank of America raised their target price on Corning from $155.00 to $186.00 and gave the stock a "buy" rating in a research report on Monday, April 20th. Zacks Research lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. JPMorgan Chase & Co. increased their price target on shares of Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Citigroup boosted their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Finally, Morgan Stanley set a $180.00 target price on shares of Corning in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, Corning presently has an average rating of "Moderate Buy" and a consensus target price of $182.62.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning 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 transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 transaction 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 $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 160,655 shares of company stock worth $30,692,560. Corporate 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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