Handelsbanken Fonder AB Sells 35,407 Shares of Corning Incorporated $GLW

Key Points

• Handelsbanken Fonder cut its Corning stake by 8.4%, selling 35,407 shares and retaining 385,665 shares valued at approximately $98.5 million. Institutional investors collectively own 69.8% of Corning.
• Corning insiders also reduced their holdings, with the CEO selling 100,000 shares and a senior vice president selling 27,395 shares; insiders now own 0.25% of the company.
• Despite analyst target revisions, Corning maintains a “Moderate Buy” consensus with an average price target of $174.08. Its latest quarterly results exceeded expectations, with $0.78 adjusted EPS and $4.74 billion in revenue, up 17.1% year over year.

Handelsbanken Fonder AB decreased its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 8.4% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 385,665 shares of the electronics maker's stock after selling 35,407 shares during the quarter. Handelsbanken Fonder AB's holdings in Corning were worth $98,510,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in GLW. Atwood & Palmer Inc. purchased a new position in Corning in the 2nd quarter worth approximately $26,000. Berbice Capital Management LLC purchased a new stake in Corning during the 4th quarter valued at $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning in the 4th quarter worth $26,000. MBM Wealth Consultants LLC bought a new stake in shares of Corning in the 1st quarter worth $42,000. Finally, Kemnay Advisory Services Inc. purchased a new position in shares of Corning in the fourth quarter worth $27,000. Institutional investors own 69.80% of the company's stock.

Insider Buying and Selling at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the business's stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president owned 94,400 shares of the company's stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares of the company's stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The SEC filing for this sale provides additional information. 0.25% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GLW. Zacks Research downgraded Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. JPMorgan Chase & Co. reduced their price objective on Corning from $200.00 to $170.00 and set a "neutral" rating for the company in a report on Wednesday, July 29th. Susquehanna boosted their target price on Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a research report on Wednesday, April 29th. Bank of America upped their target price on shares of Corning from $223.00 to $243.00 and gave the company a "buy" rating in a research note on Monday, July 6th. Finally, Truist Financial raised shares of Corning from a "hold" rating to a "buy" rating and dropped their price target for the company from $205.00 to $175.00 in a report on Sunday, August 2nd. Eleven equities research analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $174.08.

Corning Stock Down 4.8%

Shares of GLW stock opened at $157.76 on Tuesday. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78. The stock has a market cap of $135.89 billion, a P/E ratio of 72.04, a P/E/G ratio of 2.12 and a beta of 1.14. The company has a 50 day simple moving average of $179.35 and a two-hundred day simple moving average of $159.98.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.63 billion. During the same quarter last year, the company posted $0.60 EPS. The company's revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts expect that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning's payout ratio is 51.14%.

About Corning

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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