Handelsbanken Fonder AB decreased its position in shares of Corning Incorporated (NYSE:GLW – Free Report) by 8.4% during the second quarter, Holdings Channel reports. The institutional investor owned 385,665 shares of the electronics maker’s stock after selling 35,407 shares during the period. Handelsbanken Fonder AB’s holdings in Corning were worth $98,510,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of GLW. Alliance Wealth Advisors LLC raised its holdings in Corning by 1.4% during the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after acquiring an additional 56 shares during the period. Ares Financial Consulting LLC boosted its stake in shares of Corning by 15.6% in the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after acquiring an additional 60 shares during the period. Signature Equity Partners LLC boosted its stake in shares of Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after acquiring an additional 62 shares during the period. Beirne Wealth Consulting Services LLC grew its position in shares of Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after purchasing an additional 64 shares in the last quarter. Finally, Balefire LLC grew its position in shares of Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock worth $1,305,000 after purchasing an additional 65 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.
Insiders Place Their Bets
In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Jaymin Amin sold 27,395 shares of the business’s 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 completion of the sale, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.25% of the company’s stock.
Corning Stock Down 4.8%
Corning (NYSE:GLW – Get Free Report) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period last year, the firm posted $0.60 earnings per share. Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.
Corning Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is 51.14%.
Analyst Upgrades and Downgrades
A number of research analysts recently commented on GLW shares. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Wall Street Zen raised shares of Corning from a “buy” rating to a “strong-buy” rating in a report on Saturday. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and reduced their price objective for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Bank of America boosted their target price on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, Oppenheimer dropped their target price on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.
Read Our Latest Stock Analysis on GLW
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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