Hsbc Holdings PLC Purchases 8,654 Shares of Corning Incorporated $GLW

Hsbc Holdings PLC boosted its holdings in Corning Incorporated (NYSE:GLW) by 0.5% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,647,264 shares of the electronics maker’s stock after purchasing an additional 8,654 shares during the quarter. Hsbc Holdings PLC’s holdings in Corning were worth $144,527,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLW. Beese Fulmer Investment Management Inc. grew its holdings in shares of Corning by 2.5% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock valued at $336,000 after buying an additional 92 shares during the last quarter. 3Chopt Investment Partners LLC raised its holdings in shares of Corning by 1.0% in the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after acquiring an additional 97 shares during the last quarter. Patten & Patten Inc. TN raised its holdings in shares of Corning by 0.6% in the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after acquiring an additional 100 shares during the last quarter. Vermillion Wealth Management Inc. lifted its position in Corning by 32.8% in the 4th quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker’s stock valued at $36,000 after acquiring an additional 100 shares in the last quarter. Finally, Joel Isaacson & Co. LLC lifted its position in Corning by 0.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock valued at $1,797,000 after acquiring an additional 102 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Trading Up 0.2%

Shares of GLW stock opened at $195.28 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market capitalization of $168.06 billion, a price-to-earnings ratio of 93.44, a PEG ratio of 2.79 and a beta of 1.15. Corning Incorporated has a 52-week low of $49.97 and a 52-week high of $211.79. The company has a 50-day simple moving average of $180.63 and a two-hundred day simple moving average of $137.25.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping 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 firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the firm earned $0.54 EPS. The company’s quarterly 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. Research analysts anticipate that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Analyst Upgrades and Downgrades

A number of analysts have commented on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Truist Financial lifted their target price on Corning from $125.00 to $149.00 and gave the company a “hold” rating in a research report on Wednesday, April 29th. Oppenheimer upped their price target on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Finally, Mizuho upped their price target on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $178.31.

Insider Buying and Selling at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the 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 transaction, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 in the last ninety days. 0.25% of the stock is owned by corporate insiders.

Corning Company 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.