Bank of New York Mellon Corp Invests $1.51 Billion in Corning Incorporated $GLW

Key Points

• Bank of New York Mellon acquired 5.92 million Corning shares worth approximately $1.51 billion, giving it a 0.69% stake. Institutional investors collectively own 69.8% of Corning.
• Corning exceeded quarterly expectations, reporting $0.78 in EPS versus $0.76 expected and $4.74 billion in revenue, up 17.1% year over year. The company issued third-quarter 2026 EPS guidance of $0.85–$0.89.
• Analysts maintain a generally positive outlook, with a consensus “Moderate Buy” rating and an average price target of $174.08; Corning also declared a quarterly dividend of $0.28 per share.

Bank of New York Mellon Corp bought a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 5,915,168 shares of the electronics maker's stock, valued at approximately $1,510,911,000. Bank of New York Mellon Corp owned approximately 0.69% of Corning at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Berbice Capital Management LLC bought a new position in Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC bought a new position in shares of Corning during the 4th quarter valued at $26,000. Atwood & Palmer Inc. acquired a new stake in shares of Corning in the 2nd quarter valued at $26,000. Kemnay Advisory Services Inc. acquired a new stake in shares of Corning in the 4th quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in Corning in the fourth quarter worth $31,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Price Performance

NYSE GLW opened at $151.49 on Friday. The stock has a 50-day simple moving average of $175.43 and a 200 day simple moving average of $163.44. Corning Incorporated has a twelve month low of $64.33 and a twelve month high of $271.78. The stock has a market capitalization of $130.49 billion, a PE ratio of 69.17, a P/E/G ratio of 1.95 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

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

Corning Announces Dividend

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

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business's stock in a transaction dated 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 transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.25% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Barclays reduced their price target on Corning from $180.00 to $129.00 and set an "equal weight" rating for the company in a research report on Wednesday, July 29th. Bank of America boosted their target price on Corning from $223.00 to $243.00 and gave the stock a "buy" rating in a report on Monday, July 6th. Oppenheimer decreased their target price on Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a research report on Wednesday, July 29th. Weiss Ratings upgraded Corning from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, August 7th. Finally, Zacks Research lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $174.08.

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.

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