Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 91,700 Shares of Corning Incorporated $GLW

Key Points

• Fjarde AP Fonden Fourth Swedish National Pension Fund has reduced its stake in Corning Incorporated by 43.1%, selling 91,700 shares during the first quarter, leaving them with 120,871 shares valued at approximately $5.53 million.
• Corning Incorporated's stock has received a consensus rating of "Moderate Buy" from analysts, with target prices ranging from $56.00 to $74.00.
• Corning announced a quarterly dividend of $0.28 that will be paid on September 29th, representing an annualized yield of 1.7% and a dividend payout ratio of 119.15%.

Fjarde AP Fonden Fourth Swedish National Pension Fund reduced its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 43.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 120,871 shares of the electronics maker's stock after selling 91,700 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in Corning were worth $5,533,000 at the end of the most recent reporting period.

Other hedge funds have also bought and sold shares of the company. Brighton Jones LLC raised its stake in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock worth $319,000 after buying an additional 2,114 shares during the period. CreativeOne Wealth LLC lifted its holdings in shares of Corning by 2.4% in the 4th quarter. CreativeOne Wealth LLC now owns 10,182 shares of the electronics maker's stock valued at $484,000 after acquiring an additional 238 shares during the last quarter. Jump Financial LLC boosted its stake in shares of Corning by 132.0% during the fourth quarter. Jump Financial LLC now owns 58,166 shares of the electronics maker's stock valued at $2,764,000 after purchasing an additional 33,095 shares during the period. United Capital Financial Advisors LLC lifted its holdings in Corning by 9.8% during the 4th quarter. United Capital Financial Advisors LLC now owns 6,827 shares of the electronics maker's stock valued at $324,000 after buying an additional 608 shares in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in Corning by 9.4% during the 4th quarter. NewEdge Advisors LLC now owns 120,525 shares of the electronics maker's stock worth $5,727,000 after acquiring an additional 10,395 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning Stock Performance

Corning stock traded up $0.0820 during mid-day trading on Thursday, hitting $64.6820. 676,243 shares of the company's stock traded hands, compared to its average volume of 5,606,784. The company has a market cap of $55.41 billion, a PE ratio of 68.81, a price-to-earnings-growth ratio of 1.45 and a beta of 1.08. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Incorporated has a one year low of $37.31 and a one year high of $66.50. The firm has a 50 day moving average price of $56.55 and a 200 day moving average price of $50.42.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion during 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 last year, the company posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a yield of 1.7%. Corning's dividend payout ratio (DPR) is 119.15%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the stock. Mizuho increased their price target on shares of Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Oppenheimer reaffirmed an "outperform" rating and set a $72.00 target price (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Wolfe Research began coverage on Corning in a report on Tuesday, July 8th. They set an "outperform" rating for the company. JPMorgan Chase & Co. upped their price target on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a research report on Friday, July 25th. Finally, Susquehanna restated a "positive" rating and set a $75.00 target price (up from $60.00) on shares of Corning in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $65.17.

Insider Buying and Selling

In related news, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. This represents a 29.51% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Edward A. Schlesinger sold 14,082 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.28, for a total transaction of $877,026.96. Following the sale, the chief financial officer directly owned 78,316 shares of the company's stock, valued at approximately $4,877,520.48. This trade represents a 15.24% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 211,484 shares of company stock valued at $12,813,804 in the last ninety days. Company insiders own 0.40% of the company's stock.

Corning Profile

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.