Csenge Advisory Group Purchases New Stake in Corning Incorporated $GLW

Key Points

• Csenge Advisory Group opened a new position in Corning in the fourth quarter, buying 6,029 shares valued at about $528,000.
• Institutional ownership remains high, with hedge funds and large investors holding about 69.8% of Corning’s stock. Several firms, including Vanguard and State Street, also added to their stakes.
• Corning reported solid quarterly results, beating earnings and revenue estimates, and it raised/outlined guidance while also declaring a quarterly dividend of $0.28 per share.

Csenge Advisory Group purchased a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 6,029 shares of the electronics maker's stock, valued at approximately $528,000.

Other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in Corning by 0.6% during the 4th 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 last quarter. State Street Corp boosted its holdings in Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock worth $3,035,836,000 after acquiring an additional 439,883 shares during the last quarter. Wellington Management Group LLP boosted its holdings in Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings in Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker's stock worth $724,432,000 after acquiring an additional 1,036,988 shares during the last quarter. Finally, Capital Research Global Investors purchased a new position in Corning during the 3rd quarter worth $907,164,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Activity at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the business's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares of the company's stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the business's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 170,774 shares of company stock valued at $28,148,435 over the last quarter. Corporate insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

GLW has been the topic of a number of analyst reports. HSBC reaffirmed a "buy" rating and set a $135.00 price objective on shares of Corning in a report on Friday, February 13th. Zacks Research raised shares of Corning from a "hold" rating to a "strong-buy" rating in a report on Monday, April 27th. Wolfe Research set a $130.00 price objective on shares of Corning and gave the stock an "outperform" rating in a report on Tuesday, January 27th. Wall Street Zen raised shares of Corning from a "hold" rating to a "buy" rating in a report on Sunday, May 17th. Finally, Susquehanna lifted their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a report on Wednesday, April 29th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $177.92.

Corning Price Performance

Shares of NYSE:GLW opened at $192.54 on Friday. The company's 50-day moving average is $160.32 and its 200 day moving average is $122.51. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market capitalization of $165.71 billion, a P/E ratio of 92.12, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14. Corning Incorporated has a fifty-two week low of $47.67 and a fifty-two week high of $211.79.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm's quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning's payout ratio is 53.59%.

About Corning

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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