Swedbank AB Increases Stock Position in Corning Incorporated $GLW

Swedbank AB raised its holdings in Corning Incorporated (NYSE:GLW) by 30.2% during the fourth quarter, Holdings Channel.com reports. The firm owned 114,525 shares of the electronics maker’s stock after purchasing an additional 26,549 shares during the quarter. Swedbank AB’s holdings in Corning were worth $10,028,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently added to or reduced their stakes in the business. Beese Fulmer Investment Management Inc. boosted its position in Corning by 2.5% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock valued at $336,000 after buying an additional 92 shares in the last quarter. Patten & Patten Inc. TN boosted its position in Corning by 0.6% in the fourth quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock valued at $1,558,000 after buying an additional 100 shares in the last quarter. Joel Isaacson & Co. LLC boosted its position in Corning by 0.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock valued at $1,797,000 after buying an additional 102 shares in the last quarter. Angeles Wealth Management LLC boosted its position in Corning by 2.8% in the third quarter. Angeles Wealth Management LLC now owns 4,242 shares of the electronics maker’s stock valued at $348,000 after buying an additional 116 shares in the last quarter. Finally, Mowery & Schoenfeld Wealth Management LLC boosted its position in Corning by 37.3% in the fourth quarter. Mowery & Schoenfeld Wealth Management LLC now owns 442 shares of the electronics maker’s stock valued at $39,000 after buying an additional 120 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of GLW stock opened at $196.64 on Wednesday. Corning Incorporated has a 1 year low of $48.62 and a 1 year high of $211.79. The firm’s 50 day moving average is $164.19 and its 200-day moving average is $124.80. The firm has a market capitalization of $169.24 billion, a price-to-earnings ratio of 94.09, a PEG ratio of 2.78 and a beta of 1.14. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) 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 company had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the business 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. Sell-side analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio is presently 53.59%.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Fox Advisors lowered shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. UBS Group boosted their price target on shares of Corning from $179.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Mizuho boosted their price target on shares of Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Susquehanna boosted their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Finally, Truist Financial boosted their price target 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. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $177.92.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the transaction, the chief executive officer directly owned 750,585 shares in the company, valued at approximately $116,618,391.45. This represents a 15.48% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 198,169 shares of company stock valued at $33,412,111 in the last three months. 0.25% of the stock is currently owned by corporate insiders.

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.