Federation des caisses Desjardins du Quebec Has $1.89 Million Holdings in Corning Incorporated $GLW

Key Points

• The Federation des caisses Desjardins du Quebec increased its ownership in Corning Incorporated by 104.9%, acquiring an additional 21,173 shares in the first quarter, bringing its total holdings to 41,364 shares valued at approximately $1.894 million.
• Corning reported $0.60 earnings per share for its most recent quarter, exceeding analysts' expectations of $0.57, and anticipates a Q3 2025 EPS guidance between 0.630-0.670.
• The company announced a quarterly dividend of $0.28 per share to be paid on September 29th, reflecting a dividend yield of 1.6%, with a payout ratio currently at 119.15%.

Federation des caisses Desjardins du Quebec grew its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 104.9% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,364 shares of the electronics maker's stock after buying an additional 21,173 shares during the period. Federation des caisses Desjardins du Quebec's holdings in Corning were worth $1,894,000 as of its most recent SEC filing.

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

Corning Trading Up 2.3%

Shares of Corning stock traded up $1.72 on Thursday, reaching $76.65. 9,300,777 shares of the company were exchanged, compared to its average volume of 5,867,106. The stock has a fifty day moving average price of $61.83 and a 200-day moving average price of $52.12. The firm has a market capitalization of $65.66 billion, a price-to-earnings ratio of 81.56, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $77.08.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion for the quarter, compared to analyst estimates 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 previous year, the firm earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, analysts expect that Corning Incorporated will post 2.33 EPS for the current 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 annualized dividend and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. Corning's payout ratio is presently 119.15%.

Insider Transactions at Corning

In other Corning news, SVP Michael Paul O'day sold 14,879 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the transaction, the senior vice president owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Edward A. Schlesinger sold 14,082 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.28, for a total value of $877,026.96. Following the completion of the transaction, the chief financial officer owned 78,316 shares in the company, valued at $4,877,520.48. This trade represents a 15.24% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 163,950 shares of company stock worth $10,449,192. 0.40% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research analysts have commented on GLW shares. Wolfe Research assumed coverage on shares of Corning in a research report on Tuesday, July 8th. They issued an "outperform" rating for the company. Citigroup lifted their target price on Corning from $52.00 to $60.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Barclays lifted their target price on Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. Wall Street Zen raised Corning from a "buy" rating to a "strong-buy" rating in a research note on Saturday, August 2nd. Finally, Morgan Stanley set a $56.00 target price on Corning and gave the company an "equal weight" rating in a research note on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $66.75.

About Corning

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.