Swiss Life Asset Management Ltd Has $25.80 Million Stake in Corning Incorporated $GLW

Key Points

• Swiss Life Asset Management cut its Corning stake by 33.7% in Q4, though it still held 294,597 shares worth about $25.8 million.
• Corning reported better-than-expected quarterly results, with EPS of $0.70 and revenue of $4.35 billion, both slightly above analyst estimates; revenue also rose 18.1% year over year.
• The company declared a quarterly dividend of $0.28 per share and has seen mixed insider activity, including large sales by CEO Wendell P. Weeks and COO Avery H. Nelson III.

Swiss Life Asset Management Ltd decreased its position in shares of Corning Incorporated (NYSE:GLW - Free Report) by 33.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 294,597 shares of the electronics maker's stock after selling 149,625 shares during the period. Swiss Life Asset Management Ltd's holdings in Corning were worth $25,795,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in Corning during the 3rd quarter worth $25,000. Strengthening Families & Communities LLC acquired a new position in Corning during the 3rd quarter worth $27,000. Cornerstone Planning Group LLC lifted its position 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 during the last quarter. JPL Wealth Management LLC acquired a new position in Corning during the 3rd quarter worth $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in Corning during the 4th quarter worth $35,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Buying and Selling

In related news, COO Avery H. Nelson III sold 1,583 shares of the stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $128.74, for a total value of $203,795.42. Following the completion of the transaction, the chief operating officer owned 59,788 shares of the company's stock, valued at $7,697,107.12. This represents a 2.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 137,514 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer directly owned 750,585 shares of the company's stock, valued at $116,618,391.45. This trade represents a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 140,628 shares of company stock valued at $21,774,117 over the last quarter. Corporate insiders own 0.25% of the company's stock.

Corning Stock Up 10.7%

Shares of GLW opened at $206.99 on Tuesday. Corning Incorporated has a 52 week low of $46.34 and a 52 week high of $208.92. 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 firm has a market capitalization of $178.14 billion, a P/E ratio of 99.04, a P/E/G ratio of 2.68 and a beta of 1.14. The company has a 50-day simple moving average of $152.13 and a 200-day simple moving average of $116.67.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results 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 net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the business posted $0.54 earnings per share. The company's quarterly 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. On average, equities research analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, May 29th. Corning's dividend payout ratio is 53.59%.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on GLW shares. Wall Street Zen lowered shares of Corning from a "buy" rating to a "hold" rating in a research report on Saturday. UBS Group boosted their target price on shares of Corning from $179.00 to $223.00 and gave the stock a "buy" rating in a research report on Thursday. Wolfe Research set a $130.00 price objective on shares of Corning and gave the company an "outperform" rating in a research report on Tuesday, January 27th. Truist Financial upped their price objective on shares of Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research report on Wednesday, April 29th. Finally, Bank of America upped their price objective on shares of Corning from $155.00 to $186.00 and gave the company a "buy" rating in a research report on Monday, April 20th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $172.15.

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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