Corning Incorporated $GLW Stock Holdings Increased by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd lifted its stake in shares of Corning Incorporated (NYSE:GLW) by 15.3% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 181,082 shares of the electronics maker’s stock after buying an additional 24,052 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Corning were worth $27,843,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of GLW. Drum Hill Capital LLC lifted its holdings in Corning by 53.3% during the 3rd quarter. Drum Hill Capital LLC now owns 5,623 shares of the electronics maker’s stock worth $865,000 after purchasing an additional 1,956 shares during the last quarter. Novem Group boosted its stake in Corning by 58.2% in the 3rd quarter. Novem Group now owns 10,675 shares of the electronics maker’s stock valued at $1,641,000 after purchasing an additional 3,927 shares during the period. Greg Jennings LLC acquired a new position in Corning in the 3rd quarter valued at $2,959,000. Capital Square LLC acquired a new position in Corning in the 3rd quarter valued at $243,000. Finally, Herold Advisors Inc. grew its holdings in Corning by 1.1% in the 3rd quarter. Herold Advisors Inc. now owns 11,540 shares of the electronics maker’s stock valued at $1,774,000 after buying an additional 125 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent research reports. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Sanford C. Bernstein began coverage on shares of Corning in a research report on Wednesday, September 30th. They issued a “market perform” rating and a $140.00 target price for the company. China Renaissance raised shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 target price for the company in a research report on Tuesday, September 8th. Truist Financial upped their price target on shares of Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research note on Friday, October 2nd. Finally, Bank of America lowered their price target on shares of Corning from $243.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Thirteen investment analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $177.56.

Insider Activity

In other news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Corning Trading Up 0.6%

Shares of GLW stock opened at $132.83 on Tuesday. The stock has a market cap of $114.42 billion, a P/E ratio of 60.65, a price-to-earnings-growth ratio of 1.68 and a beta of 1.13. Corning Incorporated has a 1 year low of $77.39 and a 1 year high of $271.78. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock has a 50 day simple moving average of $153.68 and a 200 day simple moving average of $168.93.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%. The company’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts predict that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s dividend payout ratio is 51.14%.

Corning Profile

Corning Incorporated (NYSE: GLW) is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company’s products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.