Assenagon Asset Management S.A. Lowers Stock Holdings in Corning Incorporated $GLW

Assenagon Asset Management S.A. reduced its position in Corning Incorporated (NYSE:GLW) by 74.1% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 615,352 shares of the electronics maker’s stock after selling 1,762,550 shares during the quarter. Assenagon Asset Management S.A.’s holdings in Corning were worth $157,179,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GLW. Norges Bank purchased a new stake in Corning in the 4th quarter worth approximately $921,435,000. Capital Research Global Investors grew its position in shares of Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Polar Capital Holdings Plc increased its holdings in shares of Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after purchasing an additional 2,348,125 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of Corning by 102.1% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after purchasing an additional 2,304,676 shares during the period. Finally, Evergreen Quality Fund GP Ltd. purchased a new stake in shares of Corning in the fourth quarter worth $185,312,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Up 0.5%

GLW opened at $157.45 on Friday. The stock has a market cap of $135.63 billion, a PE ratio of 71.90, a P/E/G ratio of 2.01 and a beta of 1.14. 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 Incorporated has a 52 week low of $63.37 and a 52 week high of $271.78. The business’s fifty day simple moving average is $180.04 and its 200 day simple moving average is $159.02.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the previous year, the company posted $0.60 earnings per share. The company’s revenue 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, research analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Insider Buying and Selling

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Mizuho dropped their price objective on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Barclays decreased their target price 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. Citigroup lowered their price target on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Susquehanna boosted their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $174.08.

Corning Company 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.