Swiss Life Asset Management Ltd Sells 149,625 Shares of Corning Incorporated $GLW

Swiss Life Asset Management Ltd trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 33.7% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 294,597 shares of the electronics maker’s stock after selling 149,625 shares during the quarter. Swiss Life Asset Management Ltd’s holdings in Corning were worth $25,795,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in GLW. Capital Research Global Investors bought a new stake in Corning during the third quarter worth about $907,164,000. WCM Investment Management LLC bought a new stake in Corning during the third quarter worth about $676,931,000. Wellington Management Group LLP grew its stake in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after buying an additional 3,848,540 shares during the last quarter. Polar Capital Holdings Plc grew its stake in Corning by 141.2% during the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after buying an additional 2,348,125 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership bought a new stake in Corning during the third quarter worth about $185,221,000. 69.80% of the stock is owned by institutional investors.

Insider Buying and Selling at Corning

In other Corning news, COO Avery H. Nelson III sold 1,583 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $128.74, for a total value of $203,795.42. Following the transaction, the chief operating officer directly owned 59,788 shares of the company’s stock, valued at approximately $7,697,107.12. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the transaction, the chief executive officer directly owned 750,585 shares in the company, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 140,628 shares of company stock valued at $21,774,117. 0.25% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts have weighed in on GLW shares. Susquehanna upped their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. upped their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research note on Saturday. Citigroup increased their price target on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Finally, Barclays increased their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $172.15.

Corning Price Performance

GLW opened at $206.99 on Tuesday. Corning Incorporated has a one year low of $46.34 and a one year high of $208.92. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The company’s 50 day simple moving average is $152.13 and its 200-day simple moving average is $116.67. The stock has a market capitalization of $178.14 billion, a P/E ratio of 99.04, a price-to-earnings-growth ratio of 2.68 and a beta of 1.14.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 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 $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. Corning’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

About Corning

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.