PensionDanmark Pensionsforsikringsaktieselskab Purchases 16,766 Shares of Corning Incorporated $GLW

PensionDanmark Pensionsforsikringsaktieselskab increased its position in Corning Incorporated (NYSE:GLW) by 10.5% in the 2nd quarter, Holdings Channel reports. The firm owned 175,776 shares of the electronics maker’s stock after buying an additional 16,766 shares during the quarter. PensionDanmark Pensionsforsikringsaktieselskab’s holdings in Corning were worth $44,898,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of GLW. Brighton Jones LLC raised its stake in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in shares of Corning during the 1st quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after acquiring an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Corning in the second quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in Corning in the second quarter valued at about $266,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value 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 trade represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by insiders.

Corning Trading Up 0.5%

Shares of GLW stock opened at $157.45 on Friday. The company has a market capitalization of $135.63 billion, a P/E ratio of 71.90, a P/E/G ratio of 2.01 and a beta of 1.14. Corning Incorporated has a 12-month low of $63.37 and a 12-month high of $271.78. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm has a 50-day moving average price of $180.04 and a 200 day moving average price of $159.02.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Analysts Set New Price Targets

A number of research analysts have commented on GLW shares. Morgan Stanley cut their price target on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Susquehanna upped their price objective on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Citigroup dropped their target price on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. UBS Group restated a “buy” rating and set a $196.00 target price on shares of Corning in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. decreased their price target on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.08.

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.