Dai ichi Life Insurance Company Ltd cut its position in Corning Incorporated (NYSE:GLW - Free Report) by 20.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 89,334 shares of the electronics maker's stock after selling 22,674 shares during the quarter. Dai ichi Life Insurance Company Ltd's holdings in Corning were worth $12,147,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new position in Corning during the fourth quarter valued at approximately $921,435,000. 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 during the last quarter. Polar Capital Holdings Plc increased its stake in shares of Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock valued at $329,035,000 after purchasing an additional 2,348,125 shares during the last quarter. Arrowstreet Capital Limited Partnership raised its holdings in shares of Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker's stock worth $399,505,000 after buying an additional 2,304,676 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. acquired a new position in shares of Corning during the 4th quarter worth $185,312,000. Institutional investors own 69.80% of the company's stock.
Wall Street Analyst Weigh In
Several research firms recently weighed in on GLW. Barclays raised their price objective on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a research note on Friday, May 8th. Zacks Research downgraded Corning from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Mizuho raised their price target on shares of Corning from $220.00 to $270.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Bank of America lifted their price target on shares of Corning from $223.00 to $243.00 and gave the company a "buy" rating in a report on Monday, July 6th. Finally, Morgan Stanley set a $180.00 price objective on shares of Corning in a research report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $194.69.
Check Out Our Latest Analysis on Corning
Corning Price Performance
Corning stock opened at $146.57 on Friday. The stock has a 50-day moving average price of $188.01 and a two-hundred day moving average price of $155.14. Corning Incorporated has a 12 month low of $54.89 and a 12 month high of $271.78. The company has a market capitalization of $126.14 billion, a PE ratio of 70.13, a P/E/G ratio of 2.05 and a beta of 1.09. 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 issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the business earned $0.54 EPS. The firm'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. Analysts expect that Corning Incorporated will post 3.18 EPS for the current year.
Corning Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning's payout ratio is 53.59%.
Insider Activity at Corning
In related news, SVP Michaune D. Tillman sold 3,260 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company's stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last quarter. Insiders own 0.25% of the company's stock.
Corning Company Profile
(
Free Report)
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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