CIBC Bancorp USA Inc. Buys Shares of 108,770 Corning Incorporated $GLW

CIBC Bancorp USA Inc. purchased a new position in shares of Corning Incorporated (NYSE:GLW) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 108,770 shares of the electronics maker’s stock, valued at approximately $8,922,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. lifted its stake in shares of Corning by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock worth $8,096,577,000 after acquiring an additional 750,530 shares during the period. State Street Corp increased its stake in shares of 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 acquiring an additional 439,883 shares during the period. Wellington Management Group LLP raised its holdings in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares in the last quarter. Finally, Capital Research Global Investors acquired a new stake in Corning in the third quarter valued at about $907,164,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Performance

Shares of GLW opened at $124.72 on Friday. The company has a market capitalization of $107.00 billion, a PE ratio of 67.78, a PEG ratio of 2.10 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $162.10. The company’s 50 day moving average price is $122.00 and its 200 day moving average price is $97.26.

Corning (NYSE:GLW) last released its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.71 by $0.01. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The firm’s revenue was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Research analysts expect 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 will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio (DPR) is currently 60.87%.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on GLW shares. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Barclays set a $100.00 price target on Corning in a report on Thursday, January 29th. Fox Advisors downgraded Corning from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 29th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, UBS Group raised their target price on Corning from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 20th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average price target of $131.75.

Insiders Place Their Bets

In related news, CFO Edward A. Schlesinger sold 21,104 shares of the stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the completion of the sale, the chief financial officer owned 54,780 shares in the company, valued at approximately $5,727,249. This trade represents a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Eric S. Musser sold 25,000 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the completion of the transaction, the insider owned 19,926 shares of the company’s stock, valued at approximately $2,191,860. This represents a 55.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 233,201 shares of company stock valued at $32,614,558 in the last ninety days. Company insiders own 0.40% of the company’s stock.

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.