Credit Agricole S A Acquires 20,745 Shares of Corning Incorporated $GLW

Key Points

• Credit Agricole S A increased its stake in Corning Incorporated by 8.4%, acquiring an additional 20,745 shares, bringing its total holdings to 267,283 shares worth approximately $12.24 million.
• In the recent earnings report, Corning surpassed analysts' expectations with a EPS of $0.60 and revenue of $3.86 billion.
• Corning has announced a quarterly dividend of $0.28 per share, reflecting a 1.7% dividend yield, with a dividend payout ratio of 119.15%.

Credit Agricole S A lifted its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 8.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 267,283 shares of the electronics maker's stock after purchasing an additional 20,745 shares during the period. Credit Agricole S A's holdings in Corning were worth $12,236,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in GLW. Polar Capital Holdings Plc bought a new stake in shares of Corning during the 4th quarter valued at about $124,253,000. Nuveen LLC bought a new stake in shares of Corning during the 1st quarter valued at about $104,789,000. Assenagon Asset Management S.A. boosted its position in shares of Corning by 101.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker's stock valued at $135,140,000 after purchasing an additional 1,483,151 shares in the last quarter. SG Americas Securities LLC boosted its position in shares of Corning by 3,441.4% during the 1st quarter. SG Americas Securities LLC now owns 1,190,359 shares of the electronics maker's stock valued at $54,495,000 after purchasing an additional 1,156,746 shares in the last quarter. Finally, Deutsche Bank AG boosted its position in shares of Corning by 37.1% during the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker's stock valued at $175,603,000 after purchasing an additional 1,037,875 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Corning Stock Performance

Shares of Corning stock opened at $64.57 on Thursday. The company has a market cap of $55.31 billion, a PE ratio of 68.69, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $66.50. The business has a 50 day moving average price of $56.55 and a 200-day moving average price of $50.42. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $3.86 billion during the quarter, compared to the consensus estimate 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 prior year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, August 29th. Corning's dividend payout ratio (DPR) is presently 119.15%.

Analyst Ratings Changes

GLW has been the topic of a number of research reports. Susquehanna reaffirmed a "positive" rating and set a $75.00 price target (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. UBS Group upped their price target on Corning from $57.00 to $65.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 6th. Wall Street Zen raised Corning from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Citigroup upped their price target on Corning from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Finally, JPMorgan Chase & Co. upped their price target on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a research note on Friday, July 25th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Corning has an average rating of "Moderate Buy" and a consensus price target of $65.17.

Insider Activity at Corning

In related news, COO Avery H. Nelson III sold 36,240 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the sale, the chief operating officer directly owned 64,838 shares of the company's stock, valued at approximately $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares of the company's stock, valued at $2,473,804.98. The trade was a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 211,484 shares of company stock valued at $12,813,804 in the last ninety days. Insiders own 0.40% of the company's stock.

Corning Profile

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.

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