Corning Incorporated $GLW Position Increased by Cibc World Market Inc.

Cibc World Market Inc. raised its stake in shares of Corning Incorporated (NYSE:GLW) by 17.6% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 119,874 shares of the electronics maker’s stock after acquiring an additional 17,949 shares during the quarter. Cibc World Market Inc.’s holdings in Corning were worth $10,496,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. TD Asset Management Inc raised its holdings in Corning by 22.3% during the fourth quarter. TD Asset Management Inc now owns 2,363,820 shares of the electronics maker’s stock valued at $206,976,000 after buying an additional 430,664 shares in the last quarter. Sivia Capital Partners LLC grew its position in shares of Corning by 4.3% in the fourth quarter. Sivia Capital Partners LLC now owns 8,074 shares of the electronics maker’s stock valued at $707,000 after purchasing an additional 334 shares during the last quarter. Greenspring Advisors LLC grew its position in shares of Corning by 16.8% in the fourth quarter. Greenspring Advisors LLC now owns 5,023 shares of the electronics maker’s stock valued at $440,000 after purchasing an additional 723 shares during the last quarter. Evolution Wealth Management Inc. grew its position in shares of Corning by 58.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. Finally, REAP Financial Group LLC grew its position in shares of Corning by 25.5% in the fourth quarter. REAP Financial Group LLC now owns 816 shares of the electronics maker’s stock valued at $71,000 after purchasing an additional 166 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Performance

Shares of Corning stock opened at $177.52 on Friday. The firm has a fifty day moving average of $173.00 and a two-hundred day moving average of $130.26. The stock has a market capitalization of $152.78 billion, a price-to-earnings ratio of 84.94, a PEG ratio of 2.54 and a beta of 1.15. Corning Incorporated has a 52 week low of $49.47 and a 52 week high of $211.79. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last issued its 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 $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities research analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

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

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 shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction on 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 completion of the sale, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,655 shares of company stock worth $12,046,561 in the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Oppenheimer lifted their target price on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. UBS Group lifted their price objective on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday. Susquehanna boosted their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Citigroup boosted their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average price target of $178.31.

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.