DUTCH ASSET Corp Buys New Stake in Corning Incorporated $GLW

Key Points

• DUTCH ASSET Corp bought a new stake in Corning during the fourth quarter, purchasing 8,929 shares valued at about $782,000.
• Other institutional investors also added to Corning, and institutions now own 69.80% of the stock, highlighting continued interest from large funds.
• Corning reported solid quarterly results, with EPS of $0.70 and revenue of $4.34 billion, both slightly ahead of estimates, while analysts currently rate the stock a Moderate Buy with an average price target of $178.31.

DUTCH ASSET Corp purchased a new stake in Corning Incorporated (NYSE:GLW - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The fund purchased 8,929 shares of the electronics maker's stock, valued at approximately $782,000.

Several other hedge funds and other institutional investors have also made changes to their positions in GLW. Vanguard Group Inc. grew its position in shares of Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock valued at $8,693,247,000 after purchasing an additional 580,678 shares in the last quarter. State Street Corp lifted its position in shares of Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock worth $3,035,836,000 after buying an additional 439,883 shares in the last quarter. Geode Capital Management LLC boosted its stake in Corning by 2.6% during the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock valued at $1,781,250,000 after buying an additional 517,067 shares during the last quarter. Capital Research Global Investors boosted its stake in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock valued at $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Finally, Wellington Management Group LLP grew 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 valued at $1,358,211,000 after buying an additional 3,848,540 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Corning Trading Up 0.2%

Shares of NYSE GLW opened at $195.28 on Friday. The business's 50 day moving average is $180.63 and its two-hundred day moving average is $137.25. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. Corning Incorporated has a 1-year low of $49.97 and a 1-year high of $211.79. The stock has a market capitalization of $168.06 billion, a P/E ratio of 93.44, a PEG ratio of 2.79 and a beta of 1.15.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company's revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

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 dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's dividend payout ratio is presently 53.59%.

Insider Buying and Selling

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available 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. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts have issued reports on GLW shares. Susquehanna lifted their price objective on Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a research note on Wednesday, April 29th. UBS Group increased their target price on Corning from $223.00 to $228.00 and gave the company a "buy" rating in a research report on Friday, June 5th. Weiss Ratings restated a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. Truist Financial upped their price target on shares of Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research note on Wednesday, April 29th. Finally, Bank of America upped their price target on shares of Corning from $155.00 to $186.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Corning currently has an average rating of "Moderate Buy" and a consensus price target of $178.31.

Corning 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.

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