Corning Incorporated $GLW Stock: Vontobel Holding Ltd. Boosts Stake

Vontobel Holding Ltd. increased its holdings in Corning Incorporated (NYSE:GLW) by 20.4% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 458,668 shares of the electronics maker’s stock after buying an additional 77,699 shares during the period. Vontobel Holding Ltd. owned about 0.05% of Corning worth $70,525,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Bank of New York Mellon Corp acquired a new position in Corning in the second quarter valued at approximately $1,510,911,000. State Street Corp grew its holdings in shares of Corning by 13.4% during the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock valued at $10,500,315,000 after purchasing an additional 4,845,027 shares during the last quarter. Legal & General Group Plc acquired a new stake in shares of Corning during the 2nd quarter worth approximately $1,212,283,000. Wellington Management Group LLP raised its position in shares of Corning by 50.9% during the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after purchasing an additional 4,446,514 shares during the period. Finally, Bank of America Corp DE lifted its holdings in shares of Corning by 29.2% in the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock worth $4,784,361,000 after purchasing an additional 4,231,507 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLW. Citigroup reduced their price objective on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. JPMorgan Chase & Co. lowered their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. China Renaissance raised Corning from a “hold” rating to a “buy” rating and set a $238.00 target price on the stock in a research report on Tuesday, September 8th. Oppenheimer dropped their target price on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Mizuho cut their target price on Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 15th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $177.56.

Insiders Place Their Bets

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is owned by insiders.

Corning Stock Performance

NYSE GLW traded down $6.50 on Friday, hitting $131.93. The stock had a trading volume of 7,706,969 shares, compared to its average volume of 7,787,889. The company’s 50-day moving average is $154.18 and its two-hundred day moving average is $168.66. Corning Incorporated has a one year low of $77.39 and a one year high of $271.78. The stock has a market cap of $113.64 billion, a price-to-earnings ratio of 60.24, a P/E/G ratio of 1.76 and a beta of 1.13. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last released its quarterly 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. The company had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, analysts expect that Corning Incorporated will post 3.28 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s payout ratio is presently 51.14%.

Corning Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.