Himension Capital Singapore PTE. LTD. Buys Shares of 3,346 Corning Incorporated $GLW

Himension Capital Singapore PTE. LTD. purchased a new position in shares of Corning Incorporated (NYSE:GLW) during the 1st quarter, Holdings Channel.com reports. The institutional investor purchased 3,346 shares of the electronics maker’s stock, valued at approximately $455,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Vanguard Group Inc. increased its stake in Corning by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after purchasing an additional 580,678 shares in the last quarter. State Street Corp boosted its position in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after purchasing an additional 439,883 shares in the last quarter. Geode Capital Management LLC grew its holdings in Corning by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after purchasing an additional 517,067 shares during the last quarter. Capital Research Global Investors grew its holdings in Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its position in shares of Corning by 8.1% in the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity

In related news, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock valued at $30,692,560 in the last 90 days. Insiders own 0.25% of the company’s stock.

Corning Trading Up 6.1%

Shares of GLW stock opened at $162.44 on Wednesday. The firm has a 50-day moving average price of $191.02 and a 200 day moving average price of $154.27. Corning Incorporated has a twelve month low of $53.29 and a twelve month high of $271.78. The company has a market capitalization of $139.80 billion, a price-to-earnings ratio of 77.72, a PEG ratio of 2.01 and a beta of 1.09. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Wall Street Analysts Forecast Growth

GLW has been the subject of several research reports. Bank of America lifted their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Morgan Stanley set a $180.00 price target on shares of Corning in a report on Friday, May 8th. UBS Group set a $243.00 price target on shares of Corning in a research report on Monday, July 6th. JPMorgan Chase & Co. raised 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. Finally, Barclays lifted their price objective on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average 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.