North Dakota State Investment Board Invests $2.35 Million in Corning Incorporated $GLW

Key Points

• North Dakota State Investment Board opened a new position in Corning, buying 26,777 shares worth about $2.35 million in the fourth quarter.
• Corning continues to attract institutional interest, with multiple hedge funds and investors increasing holdings; about 69.8% of the stock is owned by institutions and hedge funds.
• The company reported strong quarterly results, beating EPS and revenue estimates, and it also announced a quarterly dividend of $0.28 per share payable June 29.

North Dakota State Investment Board bought a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 26,777 shares of the electronics maker's stock, valued at approximately $2,345,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Merit Financial Group LLC raised its holdings in Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock worth $3,940,000 after purchasing an additional 6,493 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ raised its holdings in Corning by 4.9% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker's stock worth $21,471,000 after purchasing an additional 12,297 shares during the last quarter. Security National Bank raised its holdings in Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock worth $6,350,000 after purchasing an additional 56,056 shares during the last quarter. Three Seasons Wealth LLC purchased a new position in Corning during the fourth quarter worth $1,750,000. Finally, Natixis Advisors LLC increased its position in Corning by 32.1% during the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker's stock worth $39,367,000 after buying an additional 116,583 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CEO Wendell P. Weeks sold 137,514 shares of the firm's stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the sale, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. This trade represents a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP John Z. Zhang sold 10,000 shares of the firm's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 170,774 shares of company stock worth $28,148,435 over the last ninety days. Company insiders own 0.25% of the company's stock.

Corning Stock Performance

Corning stock opened at $178.74 on Tuesday. Corning Incorporated has a fifty-two week low of $47.40 and a fifty-two week high of $211.79. The stock has a fifty day moving average of $157.10 and a two-hundred day moving average of $120.55. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market capitalization of $153.83 billion, a price-to-earnings ratio of 85.52, a PEG ratio of 2.74 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter last year, the firm earned $0.54 earnings per share. The business's revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts anticipate that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. Corning's dividend payout ratio (DPR) is 53.59%.

Analysts Set New Price Targets

GLW has been the subject of several recent research reports. Truist Financial raised their price target on Corning from $125.00 to $149.00 and gave the stock a "hold" rating in a research report on Wednesday, April 29th. UBS Group raised their price target on Corning from $179.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Weiss Ratings raised Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. JPMorgan Chase & Co. raised their price target on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. Finally, Mizuho raised their price target on Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 12th. One 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. According to MarketBeat, the company 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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