Assenagon Asset Management S.A. Grows Stake in Corning Incorporated $GLW

Assenagon Asset Management S.A. grew its stake in shares of Corning Incorporated (NYSE:GLW) by 125.8% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 2,683,497 shares of the electronics maker’s stock after acquiring an additional 1,495,277 shares during the period. Assenagon Asset Management S.A. owned about 0.31% of Corning worth $220,127,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in Corning by 1.6% in the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after purchasing an additional 1,582,895 shares during the last quarter. State Street Corp increased its position in Corning by 1.4% in the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock worth $1,923,162,000 after buying an additional 509,013 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of Corning by 0.6% in the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after buying an additional 112,739 shares during the period. Ameriprise Financial Inc. lifted its position in shares of Corning by 8.1% during the 2nd 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 during the last quarter. Finally, Norges Bank purchased a new position in shares of Corning during the 2nd quarter valued at $534,936,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insiders Place Their Bets

In other Corning news, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the sale, the executive vice president directly owned 17,575 shares in the company, valued at $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Stefan Becker sold 12,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the completion of the transaction, the senior vice president directly owned 5,049 shares of the company’s stock, valued at approximately $460,872.72. This represents a 70.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 156,135 shares of company stock worth $14,088,769. Insiders own 0.32% of the company’s stock.

Corning Stock Down 1.9%

Shares of NYSE:GLW opened at $86.43 on Wednesday. The firm has a fifty day moving average price of $85.88 and a two-hundred day moving average price of $71.03. The company has a market cap of $74.10 billion, a price-to-earnings ratio of 54.70, a PEG ratio of 1.93 and a beta of 1.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. Corning Incorporated has a one year low of $37.31 and a one year high of $96.64.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business’s quarterly revenue was up 20.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 14th were issued a $0.28 dividend. The ex-dividend date of this dividend was Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is presently 70.89%.

Wall Street Analyst Weigh In

GLW has been the subject of several recent research reports. JPMorgan Chase & Co. lifted their price objective on Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a report on Wednesday, October 29th. Mizuho set a $97.00 target price on shares of Corning in a research report on Wednesday, October 29th. Susquehanna boosted their price target on shares of Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Oppenheimer set a $100.00 price target on shares of Corning and gave the company an “outperform” rating in a research note on Wednesday, October 29th. Finally, Argus lifted their price objective on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $91.64.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.