TD Asset Management Inc Buys 430,664 Shares of Corning Incorporated $GLW

Key Points

• TD Asset Management increased its Corning stake by 22.3% in the fourth quarter, buying 430,664 additional shares and bringing its total holding to 2,363,820 shares worth about $206.98 million.
• Wall Street sentiment remains positive overall, with 10 analysts rating Corning a Buy and six a Hold; the consensus view is a “Moderate Buy” with an average price target of $177.92, though recent calls were mixed.
• Corning posted solid results and raised expectations, beating quarterly earnings and revenue estimates, while also announcing a quarterly dividend of $0.28 per share to be paid on June 29.

TD Asset Management Inc boosted its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 22.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,363,820 shares of the electronics maker's stock after acquiring an additional 430,664 shares during the period. TD Asset Management Inc owned 0.28% of Corning worth $206,976,000 at the end of the most recent reporting period.

Other hedge funds have also recently added to or reduced their stakes in the company. Beese Fulmer Investment Management Inc. increased its stake in shares of Corning by 2.5% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker's stock valued at $336,000 after purchasing an additional 92 shares during the last quarter. 3Chopt Investment Partners LLC increased its stake in shares of Corning by 1.0% in the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker's stock valued at $897,000 after purchasing an additional 97 shares during the last quarter. Patten & Patten Inc. TN increased its stake in shares of Corning by 0.6% in the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker's stock valued at $1,558,000 after purchasing an additional 100 shares during the last quarter. Joel Isaacson & Co. LLC increased its stake in shares of Corning by 0.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker's stock valued at $1,797,000 after purchasing an additional 102 shares during the last quarter. Finally, Angeles Wealth Management LLC increased its stake in shares of Corning by 2.8% in the 3rd quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker's stock valued at $348,000 after purchasing an additional 116 shares during the last quarter. Institutional investors own 69.80% of the company's stock.

Wall Street Analysts Forecast Growth

GLW has been the topic of several recent analyst reports. Wall Street Zen upgraded Corning from a "hold" rating to a "buy" rating in a research note on Sunday, May 17th. Zacks Research lowered Corning from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Mizuho lifted their price target on Corning from $190.00 to $220.00 and gave the company an "outperform" rating in a research note on Tuesday, May 12th. UBS Group lifted their price target on Corning from $179.00 to $223.00 and gave the company a "buy" rating in a research note on Thursday, May 7th. Finally, Oppenheimer lifted their price target on Corning from $120.00 to $210.00 and gave the company an "outperform" rating in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $177.92.

Insider Transactions at Corning

In other Corning news, SVP Jaymin Amin sold 27,395 shares of Corning 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 transaction, the senior vice president directly owned 94,400 shares of the company's stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 60,655 shares of company stock worth $12,046,561. 0.25% of the stock is currently owned by insiders.

Corning Trading Up 0.5%

Shares of GLW stock opened at $201.40 on Thursday. The firm has a market capitalization of $173.33 billion, a P/E ratio of 96.36, a P/E/G ratio of 2.87 and a beta of 1.15. Corning Incorporated has a twelve month low of $49.47 and a twelve month high of $211.79. 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 stock's fifty day simple moving average is $171.25 and its 200 day simple moving average is $129.11.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion for 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 quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed 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. The ex-dividend date 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 currently 53.59%.

Corning 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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