MUFG Securities EMEA plc Grows Stake in Corning Incorporated $GLW

Key Points

• MUFG Securities EMEA plc boosted its Corning stake by 114.4% in the fourth quarter, ending with 31,993 shares worth about $2.8 million.
• Several insiders sold shares recently, including VP John Z. Zhang and SVP Soumya Seetharam, while insiders overall sold 60,655 shares in the last quarter.
• Corning beat earnings expectations, reported strong year-over-year revenue growth, and its stock was down 2.6% on the day despite analysts maintaining a Moderate Buy consensus.

MUFG Securities EMEA plc increased its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 114.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 31,993 shares of the electronics maker's stock after purchasing an additional 17,072 shares during the quarter. MUFG Securities EMEA plc's holdings in Corning were worth $2,801,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. grew its holdings in Corning by 2.5% during the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker's stock valued at $336,000 after buying an additional 92 shares in the last quarter. Patten & Patten Inc. TN grew its holdings in Corning by 0.6% during the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker's stock valued at $1,558,000 after buying an additional 100 shares in the last quarter. Joel Isaacson & Co. LLC grew its holdings in Corning by 0.5% during the 4th quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker's stock valued at $1,797,000 after buying an additional 102 shares in the last quarter. Angeles Wealth Management LLC grew its holdings in Corning by 2.8% during the 3rd quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker's stock valued at $348,000 after buying an additional 116 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC grew its holdings in Corning by 37.3% during the 4th quarter. Mowery & Schoenfeld Wealth Management LLC now owns 442 shares of the electronics maker's stock valued at $39,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Insider Transactions at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares of the company's stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 60,655 shares of company stock valued at $12,046,561. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Wall Street Zen upgraded Corning from a "hold" rating to a "buy" rating in a report on Sunday, May 17th. Truist Financial raised their price target on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a report on Wednesday, April 29th. Zacks Research cut Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Barclays raised their price target on Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Finally, JPMorgan Chase & Co. raised 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. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $177.92.

Corning Trading Down 2.6%

Shares of NYSE GLW opened at $176.45 on Tuesday. 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 business has a fifty day simple moving average of $168.33 and a two-hundred day simple moving average of $127.49. The firm has a market cap of $151.86 billion, a PE ratio of 84.42, a price-to-earnings-growth ratio of 2.59 and a beta of 1.14. Corning Incorporated has a twelve month low of $49.10 and a twelve month high of $211.79.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 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%.Corning's revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts expect that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company 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. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning's payout ratio is 53.59%.

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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