SEB Asset Management AB Acquires New Holdings in Corning Incorporated $GLW

SEB Asset Management AB bought a new position in Corning Incorporated (NYSE:GLW) in the 1st quarter, Holdings Channel.com reports. The fund bought 180,354 shares of the electronics maker’s stock, valued at approximately $24,523,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Norges Bank bought a new stake in Corning in the fourth quarter worth $921,435,000. Capital Research Global Investors lifted its position in shares of Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Polar Capital Holdings Plc boosted its stake in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after acquiring an additional 2,348,125 shares in the last quarter. Arrowstreet Capital Limited Partnership increased its holdings in shares of Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after acquiring an additional 2,304,676 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. acquired a new position in shares of Corning during the 4th quarter valued at about $185,312,000. Institutional investors own 69.80% of the company’s stock.

Insider Transactions at Corning

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 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 transaction, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by insiders.

Corning Stock Performance

Shares of NYSE GLW opened at $154.47 on Monday. Corning Incorporated has a 12 month low of $53.29 and a 12 month high of $271.78. The company has a market cap of $132.94 billion, a P/E ratio of 73.91, a P/E/G ratio of 2.03 and a beta of 1.09. The business’s 50 day moving average is $192.81 and its two-hundred day moving average is $153.30. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted 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. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts expect that Corning Incorporated will post 3.18 EPS for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is presently 53.59%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the company. Bank of America boosted their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. UBS Group set a $243.00 price target on Corning in a report on Monday, July 6th. JPMorgan Chase & Co. lifted their price target on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Truist Financial boosted their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Finally, Barclays upped their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $194.69.

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.