Assenagon Asset Management S.A. Trims Stock Position in Corning Incorporated $GLW

Assenagon Asset Management S.A. lessened its position in shares of Corning Incorporated (NYSE:GLW) by 29.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,881,336 shares of the electronics maker’s stock after selling 802,161 shares during the period. Assenagon Asset Management S.A. owned approximately 0.22% of Corning worth $164,730,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GLW. Vanguard Group Inc. grew its position in shares of Corning by 0.8% during the 3rd quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock valued at $8,096,577,000 after purchasing an additional 750,530 shares in the last quarter. State Street Corp raised its position in shares of Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares in the last quarter. Wellington Management Group LLP boosted its stake 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 valued at $1,358,211,000 after buying an additional 3,848,540 shares during the period. Ameriprise Financial Inc. grew its position 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 buying an additional 1,036,988 shares in the last quarter. Finally, Capital Research Global Investors purchased a new position in Corning during the third quarter worth about $907,164,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Price Performance

Shares of Corning stock opened at $131.06 on Tuesday. The firm has a market capitalization of $112.44 billion, a PE ratio of 71.23, a price-to-earnings-growth ratio of 1.97 and a beta of 1.04. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $162.10. The business’s 50-day moving average price is $122.87 and its 200-day moving average price is $98.09.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates 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%.Corning’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Sell-side analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. Corning’s dividend payout ratio is 60.87%.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent analyst reports. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Morgan Stanley upped their price objective on shares of Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Mizuho set a $145.00 target price on shares of Corning in a research note on Monday, February 23rd. HSBC reiterated a “buy” rating and set a $135.00 target price on shares of Corning in a research report on Friday, February 13th. Finally, Citigroup increased their price target on shares of Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a report on Wednesday, February 25th. Eleven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $132.67.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the transaction, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. This trade represents a 15.48% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Avery H. Nelson III sold 1,583 shares of the company’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $128.74, for a total transaction of $203,795.42. Following the sale, the chief operating officer owned 59,788 shares of the company’s stock, valued at approximately $7,697,107.12. The trade was a 2.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 233,201 shares of company stock worth $32,614,558 in the last ninety days. 0.32% of the stock is currently owned by insiders.

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.