BI Asset Management Fondsmaeglerselskab A S Trims Stock Holdings in Corning Incorporated $GLW

BI Asset Management Fondsmaeglerselskab A S lowered its holdings in Corning Incorporated (NYSE:GLW) by 58.6% during the 1st quarter, HoldingsChannel.com reports. The firm owned 53,204 shares of the electronics maker’s stock after selling 75,282 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in Corning were worth $7,234,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning in the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC bought a new stake in Corning during the 4th quarter valued at $26,000. Basepoint Wealth LLC bought a new stake in Corning during the 4th quarter valued at $26,000. Kemnay Advisory Services Inc. purchased a new stake in shares of Corning during the fourth quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in shares of Corning in the fourth quarter worth $31,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Up 0.2%

GLW stock opened at $195.28 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company’s 50 day moving average is $180.63 and its 200 day moving average is $137.63. The stock has a market cap of $168.06 billion, a price-to-earnings ratio of 93.44, a price-to-earnings-growth ratio of 2.79 and a beta of 1.15. Corning Incorporated has a 1-year low of $49.97 and a 1-year high of $211.79.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the business posted $0.54 earnings per share. Corning’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on GLW. Mizuho lifted their price target on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Oppenheimer raised their target price on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Bank of America lifted their target price on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. Finally, Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.31.

Insiders Place Their Bets

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total value 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 SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over the last three months. 0.25% of the stock is currently owned by company insiders.

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.