Bank of New York Mellon Corp Trims Stock Position in Corning Incorporated $GLW

Bank of New York Mellon Corp lessened its holdings in Corning Incorporated (NYSE:GLW) by 8.7% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,178,182 shares of the electronics maker’s stock after selling 586,829 shares during the period. Bank of New York Mellon Corp’s holdings in Corning were worth $840,047,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLW. Geneos Wealth Management Inc. increased its stake in shares of Corning by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock worth $623,000 after purchasing an additional 70 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. bought a new position in Corning in the 1st quarter worth $68,000. Ethos Financial Group LLC lifted its position in Corning by 5.8% during the first quarter. Ethos Financial Group LLC now owns 5,557 shares of the electronics maker’s stock valued at $756,000 after purchasing an additional 304 shares in the last quarter. Signet Financial Management LLC purchased a new position in Corning during the first quarter valued at $275,000. Finally, Opinicus Capital Inc. bought a new stake in Corning during the first quarter valued at about $369,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on GLW. JPMorgan Chase & Co. upped their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. UBS Group set a $243.00 target price on shares of Corning in a report on Monday, July 6th. Finally, Truist Financial raised their target price on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $194.69.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Technical watchers say GLW is testing its 80-day moving average, a level that has historically acted as a bullish support area, which could hint at upside if the stock stabilizes. Corning Stock Signal Hints at Upside Potential Amid Breather
• Neutral Sentiment: Corning’s upcoming earnings report is in focus, with investors waiting to see whether recent AI-related optimism and strong operating trends can justify the stock’s elevated valuation. Corning earnings preview: What to expect
• Negative Sentiment: JPMorgan put Corning on “Negative Catalyst Watch” ahead of earnings, citing valuation concerns, which signals limited near-term upside if results do not exceed expectations. Corning lands on JP Morgan’s ‘Negative Catalyst Watch’ ahead of earnings due to valuation
• Negative Sentiment: Recent commentary also highlights executive sales and earnings uncertainty, adding to concerns that the stock may have run too far ahead of fundamentals. Corning (GLW) Stock Plunges 8% Amid Executive Sales and Earnings Uncertainty
• Negative Sentiment: One valuation-focused report says Corning no longer looks obviously cheap after its strong three-year run, with DCF estimates near the share price and market multiples appearing expensive. Corning (GLW) Stock Could Be 7% Above Fair Value On AI Selloff

Corning Price Performance

NYSE:GLW opened at $158.50 on Friday. The business’s 50-day simple moving average is $193.45 and its two-hundred day simple moving average is $152.83. Corning Incorporated has a 52 week low of $53.18 and a 52 week high of $271.78. The stock has a market cap of $136.41 billion, a PE ratio of 75.84, a P/E/G ratio of 2.29 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts forecast that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders 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 53.59%.

Insider Activity

In other news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. Company insiders own 0.25% 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.