Corning Incorporated $GLW Stock Bought by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Corning stake by 92.4% in the third quarter, purchasing 568,653 additional shares for a total holding of 1.18 million shares valued at approximately $182.1 million.
• Institutional investors own 69.8% of Corning, while analysts maintain a “Moderate Buy” consensus rating with an average price target of $177.56, despite several firms recently lowering their targets.
• Corning reported quarterly earnings and revenue above expectations, issued third-quarter 2026 EPS guidance of $0.85–$0.89, and declared a $0.28 quarterly dividend, representing a 0.8% annualized yield.

Assenagon Asset Management S.A. boosted its position in Corning Incorporated (NYSE:GLW - Free Report) by 92.4% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,184,005 shares of the electronics maker's stock after buying an additional 568,653 shares during the period. Assenagon Asset Management S.A. owned approximately 0.14% of Corning worth $182,053,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. State Street Corp raised its position in Corning by 13.4% in the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker's stock worth $10,500,315,000 after acquiring an additional 4,845,027 shares in the last quarter. Bank of America Corp DE lifted its holdings in Corning by 29.2% in the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker's stock valued at $4,784,361,000 after acquiring an additional 4,231,507 shares during the period. Wellington Management Group LLP lifted its holdings in Corning by 50.9% in the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker's stock valued at $3,365,084,000 after acquiring an additional 4,446,514 shares during the period. Bank of New York Mellon Corp purchased a new stake in shares of Corning during the 2nd quarter worth $1,510,911,000. Finally, Legal & General Group Plc purchased a new stake in shares of Corning during the 2nd quarter worth $1,212,283,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Insiders Place Their Bets

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the firm's stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

GLW has been the topic of a number of recent analyst reports. The Goldman Sachs Group reaffirmed an "outperform" rating on shares of Corning in a research note on Tuesday, September 15th. UBS Group raised their price objective on shares of Corning from $196.00 to $201.00 and gave the company a "buy" rating in a research note on Monday, October 5th. Citigroup reduced their price objective on shares of Corning from $240.00 to $220.00 and set a "buy" rating for the company in a research note on Wednesday, July 29th. Mizuho decreased their price objective on shares of Corning from $210.00 to $180.00 and set an "outperform" rating on the stock in a report on Tuesday, September 15th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Corning from $200.00 to $170.00 and set a "neutral" rating on the stock in a report on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $177.56.

Corning Stock Down 1.8%

GLW opened at $138.31 on Friday. The business's fifty day moving average is $154.85 and its two-hundred day moving average is $168.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company has a market cap of $119.14 billion, a price-to-earnings ratio of 49.09, a PEG ratio of 1.80 and a beta of 1.13. Corning Incorporated has a one year low of $77.39 and a one year high of $271.78.

Corning (NYSE:GLW - Get Free Report) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%. Corning's revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts anticipate that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Corning's dividend payout ratio is presently 51.14%.

Corning Company Profile

Corning Incorporated NYSE: GLW is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.

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