Danica Pension Livsforsikringsaktieselskab Takes $12.72 Million Position in Corning Incorporated $GLW

Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Corning Incorporated (NYSE:GLW) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 93,522 shares of the electronics maker’s stock, valued at approximately $12,716,000.

A number of other large investors have also added to or reduced their stakes in the company. Beirne Wealth Consulting Services LLC grew its position in shares of Corning by 0.8% in the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after buying an additional 64 shares during the last quarter. Balefire LLC boosted its stake in Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after acquiring an additional 65 shares in the last quarter. Millstone Evans Group LLC grew its holdings in Corning by 1.3% in the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock worth $733,000 after purchasing an additional 67 shares during the last quarter. Geneos Wealth Management Inc. increased its position in shares of Corning by 1.6% during the first quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock worth $623,000 after purchasing an additional 70 shares in the last quarter. Finally, Caldwell Trust Co lifted its holdings in shares of Corning by 0.5% during the 1st quarter. Caldwell Trust Co now owns 15,893 shares of the electronics maker’s stock valued at $2,161,000 after purchasing an additional 74 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Activity

In other news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction on 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 transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. Company insiders own 0.25% of the company’s stock.

Corning Trading Up 6.1%

Shares of Corning stock opened at $162.44 on Wednesday. The stock has a market cap of $139.80 billion, a PE ratio of 77.72, a price-to-earnings-growth ratio of 2.01 and a beta of 1.09. The firm has a fifty day moving average price of $191.02 and a 200 day moving average price of $154.27. Corning Incorporated has a 1 year low of $53.29 and a 1 year high of $271.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last posted 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. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts predict that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

Analysts Set New Price Targets

Several research analysts recently issued reports on GLW shares. JPMorgan Chase & Co. upped their target price on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Saturday. Truist Financial boosted their price target on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, Mizuho increased their price objective on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $194.69.

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.