DNB Asset Management AS Buys 53,982 Shares of Corning Incorporated $GLW

Key Points

• DNB Asset Management AS increased its stake in Corning by 31.8% in the fourth quarter, buying 53,982 additional shares and bringing its total holding to 223,672 shares valued at about $19.6 million.
• Corning reported better-than-expected Q1 earnings of $0.70 per share on revenue of $4.35 billion, and revenue rose 18.1% year over year. The company also issued Q2 2026 EPS guidance of $0.73 to $0.77.
• The company declared a quarterly dividend of $0.28 per share, payable June 29, while analysts currently rate the stock a Moderate Buy with a consensus price target of $177.92.

DNB Asset Management AS raised its stake in Corning Incorporated (NYSE:GLW - Free Report) by 31.8% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 223,672 shares of the electronics maker's stock after buying an additional 53,982 shares during the period. DNB Asset Management AS's holdings in Corning were worth $19,585,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Patten & Patten Inc. TN lifted its holdings in Corning by 0.6% during the fourth quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker's stock valued at $1,558,000 after purchasing an additional 100 shares in the last quarter. Joel Isaacson & Co. LLC lifted its holdings in Corning by 0.5% during the fourth quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker's stock valued at $1,797,000 after purchasing an additional 102 shares in the last quarter. CVA Family Office LLC lifted its holdings in Corning by 10.3% during the third quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker's stock valued at $98,000 after purchasing an additional 111 shares in the last quarter. Angeles Wealth Management LLC lifted its holdings in Corning by 2.8% during the third quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker's stock valued at $348,000 after purchasing an additional 116 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC lifted its holdings in Corning by 37.3% during the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 442 shares of the electronics maker's stock valued at $39,000 after purchasing an additional 120 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Corning Trading Down 7.7%

Shares of GLW opened at $192.18 on Friday. The company's fifty day moving average is $156.22 and its 200 day moving average is $119.68. Corning Incorporated has a fifty-two week low of $47.40 and a fifty-two week high of $211.79. The stock has a market capitalization of $165.40 billion, a PE ratio of 91.95, a P/E/G ratio of 2.74 and a beta of 1.14. 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 (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter in the previous year, the business posted $0.54 earnings per share. Corning'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. Sell-side analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Insider Buying and Selling 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 in the company, valued at approximately $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 accessible through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 170,774 shares of company stock worth $28,148,435. Company insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently commented on GLW shares. HSBC reissued a "buy" rating and issued a $135.00 target price on shares of Corning in a report on Friday, February 13th. Barclays boosted their target price on shares of Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Susquehanna boosted their target price on shares of Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a report on Wednesday, April 29th. Fox Advisors downgraded shares of Corning from an "overweight" rating to an "equal weight" rating in a report on Thursday, January 29th. Finally, Truist Financial boosted their target price on shares of Corning from $125.00 to $149.00 and gave the stock a "hold" rating in a report on Wednesday, April 29th. One investment analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and a consensus target price of $177.92.

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.

Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.