Corning Incorporated $GLW Position Boosted by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Corning Incorporated (NYSE:GLW) by 15.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 181,082 shares of the electronics maker’s stock after buying an additional 24,052 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Corning were worth $27,843,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Atwood & Palmer Inc. acquired a new stake in shares of Corning during the 2nd quarter worth approximately $26,000. Rogco LP bought a new position in Corning in the second quarter valued at approximately $27,000. Western Pacific Wealth Management LP bought a new position in Corning in the third quarter valued at approximately $25,000. Toth Financial Advisory Corp raised its position in Corning by 130.7% during the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 98 shares in the last quarter. Finally, Cornerstone Financial Management LLC raised its position in Corning by 63.3% during the second quarter. Cornerstone Financial Management LLC now owns 196 shares of the electronics maker’s stock valued at $50,000 after purchasing an additional 76 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Trading Up 0.6%

GLW opened at $132.83 on Tuesday. The company has a market cap of $114.42 billion, a P/E ratio of 60.65, a PEG ratio of 1.68 and a beta of 1.13. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The company’s 50 day moving average is $153.68 and its 200-day moving average is $168.93. Corning Incorporated has a 1-year low of $77.39 and a 1-year high of $271.78.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts predict that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Corning Announces Dividend

The business 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. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s payout ratio is presently 51.14%.

Insider Activity

In other news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction on Friday, August 28th. The shares were 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 directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Sanford C. Bernstein began coverage on Corning in a research note on Wednesday, September 30th. They set a “market perform” rating and a $140.00 target price for the company. UBS Group raised their target price on Corning from $196.00 to $201.00 and gave the company a “buy” rating in a report on Monday, October 5th. JPMorgan Chase & Co. decreased their price target on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Barclays decreased their price target on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Finally, Oppenheimer lowered their price target on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.56.

Corning Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.