Raiffeisen Bank International AG Acquires 52,639 Shares of Corning Incorporated $GLW

Key Points

• Raiffeisen Bank International AG increased its Corning stake by 354.9% in the fourth quarter, buying 52,639 additional shares and bringing its total holding to 67,472 shares worth about $6.0 million.
• Wall Street sentiment remains mostly positive on Corning, with several analysts raising price targets; the stock currently has a consensus rating of Moderate Buy and an average target price of $178.31.
• Corning’s recent results and outlook were strong, as it beat quarterly EPS and revenue estimates, posted 18.1% year-over-year revenue growth, and benefited from rising demand tied to AI infrastructure and optical communications.

Raiffeisen Bank International AG boosted its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 354.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 67,472 shares of the electronics maker's stock after purchasing an additional 52,639 shares during the period. Raiffeisen Bank International AG's holdings in Corning were worth $5,996,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GLW. Berbice Capital Management LLC acquired a new stake in Corning in the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the fourth quarter valued at $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning in the third quarter valued at $25,000. Evolution Wealth Management Inc. lifted its stake in Corning by 58.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker's stock valued at $33,000 after acquiring an additional 141 shares during the last quarter. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new stake in Corning in the fourth quarter valued at $35,000. Institutional investors own 69.80% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Susquehanna raised their target price on shares of Corning from $125.00 to $180.00 and gave the company a "positive" rating in a report on Wednesday, April 29th. Oppenheimer raised their target price on shares of Corning from $120.00 to $210.00 and gave the company an "outperform" rating in a report on Thursday, May 7th. Morgan Stanley set a $180.00 target price on shares of Corning in a report on Friday, May 8th. Zacks Research lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. Finally, Barclays lifted their price target on shares of Corning from $149.00 to $180.00 and gave the company an "equal weight" rating in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $178.31.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning is being highlighted as a key AI infrastructure beneficiary as photonics demand rises with surging data-center bandwidth needs, reinforcing the growth case for its optical communications business. Photonics Is the New Hot Cake of AI Infrastructure Space: 5 Picks
• Positive Sentiment: Recent commentary also says Corning has benefited from robust demand in optical communications, which supports revenue momentum and the company’s earnings outlook. Corning (GLW) Gained from Robust Demand in Optical Communications
• Positive Sentiment: Analysts and market commentators continue to point to Corning’s AI-related fiber and connectivity exposure as a long-term driver, helping explain why shares have been trending higher over the past several months. Corning Is Paving AI's Future With Glass

Corning Stock Up 5.3%

Shares of NYSE GLW opened at $177.10 on Friday. The company has a market capitalization of $152.42 billion, a P/E ratio of 84.74, a price-to-earnings-growth ratio of 2.41 and a beta of 1.15. Corning Incorporated has a 52-week low of $49.47 and a 52-week high of $211.79. 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's 50 day moving average price is $176.41 and its 200-day moving average price is $133.34.

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. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company's revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts forecast 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. Investors of record on Friday, May 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's payout ratio is presently 53.59%.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the business's stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% 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, CEO Wendell P. Weeks sold 100,000 shares of the business's stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock worth $30,692,561 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

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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