Corning Incorporated $GLW Shares Purchased by Swedbank AB

Swedbank AB boosted its stake in Corning Incorporated (NYSE:GLW) by 27.0% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 145,486 shares of the electronics maker’s stock after acquiring an additional 30,961 shares during the quarter. Swedbank AB’s holdings in Corning were worth $19,782,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. Westbourne Investment Advisors Inc. purchased a new position in shares of Corning in the first quarter valued at $244,000. Greatmark Investment Partners Inc. purchased a new stake in Corning during the 1st quarter worth $204,000. Kiley Juergens Wealth Management LLC purchased a new stake in Corning during the 1st quarter worth $592,000. Walser Wealth Management Company A Ltd Liability Co acquired a new position in Corning in the 1st quarter worth $369,000. Finally, Schear Investment Advisers LLC acquired a new position in Corning in the 1st quarter worth $261,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of GLW stock opened at $192.53 on Friday. The stock has a market capitalization of $165.70 billion, a price-to-earnings ratio of 92.12, a PEG ratio of 2.41 and a beta of 1.09. Corning Incorporated has a one year low of $51.32 and a one year high of $271.78. The company’s 50-day simple moving average is $192.40 and its 200-day simple moving average is $149.67. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the company earned $0.54 earnings per share. Corning’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is 53.59%.

Insider Buying and Selling at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction on 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 in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $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. In the last 90 days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the company. Citigroup raised their target price on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Bank of America raised their price objective on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday. Mizuho lifted their price objective on Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $193.54.

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.