Corning Incorporated $GLW Stock Position Raised by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. grew its position in shares of Corning Incorporated (NYSE:GLW) by 26.4% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 2,377,902 shares of the electronics maker’s stock after buying an additional 496,566 shares during the quarter. Corning makes up about 0.5% of Assenagon Asset Management S.A.’s investment portfolio, making the stock its 29th largest holding. Assenagon Asset Management S.A.’s holdings in Corning were worth $323,323,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in Corning in the third quarter valued at approximately $25,000. Berbice Capital Management LLC acquired a new position in shares of Corning during the 4th quarter worth $26,000. Basepoint Wealth LLC bought a new position in shares of Corning during the 4th quarter valued at $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Corning in the 4th quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning in the 4th quarter valued at $31,000. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 160,655 shares of company stock worth $30,692,560. Insiders own 0.25% of the company’s stock.

Corning Price Performance

Shares of GLW stock opened at $205.91 on Thursday. Corning Incorporated has a 12 month low of $51.09 and a 12 month high of $217.09. The company has a market capitalization of $177.21 billion, a P/E ratio of 98.52, a P/E/G ratio of 2.78 and a beta of 1.15. The stock has a 50 day moving average of $182.50 and a two-hundred day moving average of $140.14. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion for 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 quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the business posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s payout ratio is 53.59%.

Analyst Upgrades and Downgrades

Several research firms have commented on GLW. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Citigroup upped their price target on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. JPMorgan Chase & Co. increased their price objective on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Barclays boosted their target price on 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 issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

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.