Corning Incorporated $GLW Stake Lifted by Vontobel Holding Ltd.

Vontobel Holding Ltd. lifted its stake in shares of Corning Incorporated (NYSE:GLW) by 20.4% during the third quarter, Holdings Channel.com reports. The fund owned 458,668 shares of the electronics maker’s stock after purchasing an additional 77,699 shares during the period. Vontobel Holding Ltd.’s holdings in Corning were worth $70,525,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Atwood & Palmer Inc. acquired a new position in shares of Corning during the 2nd quarter valued at $26,000. Rogco LP bought a new stake in shares of Corning in the 2nd quarter worth $27,000. Toth Financial Advisory Corp raised its stake in shares of Corning by 130.7% in the 3rd quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock worth $27,000 after buying an additional 98 shares in the last quarter. Quintet Private Bank Europe S.A. lifted its holdings in shares of Corning by 220.0% in the third quarter. Quintet Private Bank Europe S.A. now owns 240 shares of the electronics maker’s stock valued at $37,000 after buying an additional 165 shares during the period. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Corning in the first quarter valued at $42,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

Shares of NYSE GLW traded down $6.50 during trading on Friday, hitting $131.93. The company had a trading volume of 7,706,969 shares, compared to its average volume of 7,787,889. Corning Incorporated has a 52 week low of $77.39 and a 52 week high of $271.78. The business’s 50-day moving average is $154.18 and its 200 day moving average is $168.66. The company has a market cap of $113.64 billion, a P/E ratio of 60.24, a PEG ratio of 1.76 and a beta of 1.13. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during 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% compared to the same quarter last year. During the same period last year, the company posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts predict that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Corning Dividend Announcement

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 currently 51.14%.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. Sanford C. Bernstein started coverage on Corning in a research note on Wednesday, September 30th. They set a “market perform” rating and a $140.00 target price for the company. Mizuho dropped their price target on shares of Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a research report on Tuesday, September 15th. UBS Group boosted their price target on shares of Corning from $196.00 to $201.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Morgan Stanley cut their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Finally, Truist Financial raised their price objective on shares of Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Thirteen research analysts have rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $177.56.

Insider Activity at Corning

In related 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 value of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.25% of the stock is currently owned by corporate insiders.

Corning Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.