Handelsbanken Fonder AB Decreases Stock Holdings in Corning Incorporated $GLW

Key Points

• Handelsbanken Fonder AB cut its Corning stake by 21.5% in the fourth quarter, selling 117,976 shares and leaving it with 430,411 shares valued at about $37.7 million.
• Corning reported better-than-expected quarterly results, with EPS of $0.70 on revenue of $4.35 billion, and it raised Q2 2026 guidance to $0.73-$0.77 EPS.
• The company also announced a quarterly dividend of $0.28 per share, while insider selling has been active, including recent sales by two senior vice presidents and $28.1 million in insider sales over the last three months.

Handelsbanken Fonder AB reduced its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 21.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 430,411 shares of the electronics maker's stock after selling 117,976 shares during the period. Handelsbanken Fonder AB owned about 0.05% of Corning worth $37,687,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning during the 3rd quarter worth $25,000. Strengthening Families & Communities LLC acquired a new stake in Corning during the 3rd quarter worth $27,000. Cornerstone Planning Group LLC raised its stake in Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock worth $30,000 after acquiring an additional 124 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Corning during the 4th quarter worth $35,000. Finally, JPL Wealth Management LLC acquired a new stake in Corning during the 3rd quarter worth $33,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Trading Down 1.5%

Shares of Corning stock opened at $175.90 on Wednesday. Corning Incorporated has a 52-week low of $47.57 and a 52-week high of $211.79. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company's 50-day simple moving average is $158.16 and its 200-day simple moving average is $121.15. The firm has a market cap of $151.38 billion, a price-to-earnings ratio of 84.16, a price-to-earnings-growth ratio of 2.56 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping 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 $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the business posted $0.54 earnings per share. The business's revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be given 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 Activity at Corning

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the company's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Soumya Seetharam sold 20,000 shares of the company's stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president 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. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 170,774 shares of company stock valued at $28,148,435. 0.25% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on the company. Zacks Research upgraded Corning from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Morgan Stanley set a $180.00 price objective on Corning in a research note on Friday, May 8th. HSBC reiterated a "buy" rating and issued a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. Fox Advisors cut Corning from an "overweight" rating to an "equal weight" rating in a research note on Thursday, January 29th. Finally, JPMorgan Chase & Co. boosted their price objective on Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target 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.

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