Corning Incorporated $GLW Shares Acquired by Vontobel Holding Ltd.

Vontobel Holding Ltd. grew its holdings in Corning Incorporated (NYSE:GLW) by 37.4% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 38,152 shares of the electronics maker’s stock after purchasing an additional 10,376 shares during the quarter. Vontobel Holding Ltd.’s holdings in Corning were worth $2,006,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of GLW. Amundi boosted its position in Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after acquiring an additional 2,507,797 shares during the last quarter. Nuveen LLC purchased a new position in shares of Corning in the 1st quarter valued at $104,789,000. Kingstone Capital Partners Texas LLC purchased a new stake in Corning during the 2nd quarter worth $92,560,000. Robeco Institutional Asset Management B.V. grew its holdings in Corning by 185.7% during the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock worth $94,736,000 after acquiring an additional 1,170,992 shares in the last quarter. Finally, Deutsche Bank AG grew its holdings in Corning by 37.1% during the 1st quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after acquiring an additional 1,037,875 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity

In related news, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the transaction, the chief executive officer directly owned 809,295 shares in the company, valued at $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock valued at $11,816,899 in the last three months. 0.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several research analysts have recently commented on the stock. Barclays lifted their price target on shares of Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their target price on shares of Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Wolfe Research initiated coverage on shares of Corning in a research report on Tuesday, July 8th. They set an “outperform” rating on the stock. Oppenheimer restated an “outperform” rating and set a $72.00 price target (up from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Finally, Citigroup boosted their price target on shares of Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Corning Stock Performance

Corning stock opened at $83.00 on Friday. The firm’s 50 day simple moving average is $73.19 and its 200-day simple moving average is $57.25. The company has a market cap of $71.10 billion, a P/E ratio of 88.30, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same period last year, the firm posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s payout ratio is presently 119.15%.

About Corning

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.