VMS Asset Management Limited Takes Position in Corning Incorporated $GLW

Key Points

• VMS Asset Management Limited disclosed a new fourth-quarter position in Corning, buying 65,508 shares valued at about $5.74 million. The stake makes up roughly 2.2% of the firm’s portfolio.
• Corning’s latest quarterly results beat expectations, with earnings of $0.70 per share on revenue of $4.35 billion, while revenue rose 18.1% year over year. The company also guided Q2 2026 EPS to a range of $0.73 to $0.77.
• The company declared a quarterly dividend of $0.28 per share, payable June 29, and analyst sentiment remains constructive with a consensus rating of Moderate Buy and average price target of $177.92.

VMS Asset Management Limited acquired a new position in Corning Incorporated (NYSE:GLW - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 65,508 shares of the electronics maker's stock, valued at approximately $5,736,000. Corning comprises approximately 2.2% of VMS Asset Management Limited's portfolio, making the stock its 19th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of GLW. Capital Research Global Investors acquired a new stake in shares of Corning in the third quarter worth $907,164,000. Norges Bank bought a new stake in shares of Corning in the fourth quarter valued at about $921,435,000. Wellington Management Group LLP lifted its stake in shares of Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock valued at $1,358,211,000 after buying an additional 3,848,540 shares during the period. Polar Capital Holdings Plc lifted its stake in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock valued at $329,035,000 after buying an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership bought a new stake in shares of Corning in the third quarter valued at about $185,221,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Activity

In other 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 value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 60,655 shares of company stock worth $12,046,561 over the last 90 days. 0.25% of the stock is currently owned by company insiders.

Corning Stock Down 1.3%

GLW opened at $198.24 on Friday. Corning Incorporated has a fifty-two week low of $49.47 and a fifty-two week high of $211.79. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm's fifty day moving average price is $172.37 and its two-hundred day moving average price is $129.93. The company has a market capitalization of $170.61 billion, a P/E ratio of 94.85, a P/E/G ratio of 2.87 and a beta of 1.15.

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 for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the previous year, the company earned $0.54 earnings per share. The business's 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, analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid 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%.

Analyst Ratings Changes

GLW has been the subject of several research reports. JPMorgan Chase & Co. increased their target price on shares of Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Mizuho raised their price objective on Corning from $190.00 to $220.00 and gave the stock an "outperform" rating in a research report on Tuesday, May 12th. Morgan Stanley set a $180.00 price objective on Corning in a research report on Friday, May 8th. Truist Financial lifted their price target on shares of Corning from $125.00 to $149.00 and gave the stock a "hold" rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reiterated a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $177.92.

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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