Sumitomo Mitsui DS Asset Management Company Ltd Acquires 9,224 Shares of Corning Incorporated $GLW

Sumitomo Mitsui DS Asset Management Company Ltd boosted its holdings in shares of Corning Incorporated (NYSE:GLW) by 9.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 104,367 shares of the electronics maker’s stock after purchasing an additional 9,224 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Corning were worth $8,561,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank bought a new stake in shares of Corning during the second quarter worth $534,936,000. Voya Investment Management LLC lifted its position in Corning by 748.0% during the 3rd quarter. Voya Investment Management LLC now owns 3,169,741 shares of the electronics maker’s stock worth $260,014,000 after buying an additional 2,795,948 shares in the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in Corning during the 2nd quarter worth about $92,560,000. Raymond James Financial Inc. grew its holdings in Corning by 93.0% during the 2nd quarter. Raymond James Financial Inc. now owns 3,407,608 shares of the electronics maker’s stock worth $179,206,000 after acquiring an additional 1,641,558 shares during the last quarter. Finally, Vanguard Group Inc. increased its position in Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after acquiring an additional 1,582,895 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

GLW opened at $85.23 on Friday. The company has a fifty day moving average price of $86.42 and a two-hundred day moving average price of $75.60. The firm has a market capitalization of $73.07 billion, a PE ratio of 53.94, a P/E/G ratio of 1.55 and a beta of 1.13. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $96.64. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56.

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

Insider Buying and Selling

In related news, insider Eric S. Musser sold 100,000 shares of the stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the sale, the insider directly owned 44,926 shares in the company, valued at $4,050,977.42. This trade represents a 69.00% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, EVP Lewis A. Steverson sold 23,142 shares of the business’s 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 transaction, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. This represents a 56.84% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 156,135 shares of company stock worth $14,088,769 in the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GLW. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Oppenheimer set a $100.00 price objective on Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Susquehanna increased their price objective on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Mizuho set a $97.00 target price on Corning in a research report on Wednesday, October 29th. Finally, Wall Street Zen lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Corning has an average rating of “Moderate Buy” and an average target price of $93.09.

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.