Bowen Hanes & Co. Inc. Trims Stock Holdings in Corning Incorporated $GLW

Key Points

• Bowen Hanes & Co. Inc. trimmed its Corning stake by 3.4% in the fourth quarter, selling 50,810 shares and leaving it with 1,431,349 shares valued at about $125.3 million.
• Other big institutional investors, including Vanguard, State Street, and Geode Capital, also maintained or increased their positions, and institutions now own about 69.8% of Corning.
• Corning reported solid quarterly results, beating EPS and revenue estimates, and raised its Q2 2026 guidance; analysts currently rate the stock Moderate Buy with an average price target of $177.92.

Bowen Hanes & Co. Inc. reduced its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 3.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The fund owned 1,431,349 shares of the electronics maker's stock after selling 50,810 shares during the quarter. Corning makes up 3.1% of Bowen Hanes & Co. Inc.'s portfolio, making the stock its 4th biggest position. Bowen Hanes & Co. Inc. owned approximately 0.17% of Corning worth $125,329,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Corning by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock worth $8,693,247,000 after buying an additional 580,678 shares during the last quarter. State Street Corp lifted its position in shares of Corning by 1.2% in the 3rd 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 during the last quarter. Geode Capital Management LLC lifted its position in shares of Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock worth $1,781,250,000 after buying an additional 517,067 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after buying an additional 3,848,540 shares during the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of Corning by 8.1% in the 2nd 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 during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of recent research reports. Oppenheimer raised their price target on shares of Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a research report on Thursday, May 7th. Weiss Ratings restated a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. HSBC reiterated a "buy" rating and issued a $135.00 price objective on shares of Corning in a research report on Friday, February 13th. Zacks Research downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, May 26th. Finally, Morgan Stanley set a $180.00 price objective on shares of Corning in a research report on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $177.92.

Corning Trading Up 0.5%

Shares of NYSE:GLW opened at $201.40 on Thursday. The company has a market cap of $173.33 billion, a PE ratio of 96.36, a P/E/G ratio of 2.87 and a beta of 1.15. The company's 50-day moving average price is $171.25 and its 200 day moving average price is $129.11. Corning Incorporated has a fifty-two week low of $49.47 and a fifty-two week high of $211.79. 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 - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning's quarterly revenue was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning's dividend payout ratio (DPR) is presently 53.59%.

Insider Activity at Corning

In other Corning news, SVP Soumya Seetharam sold 20,000 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction 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. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm's stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 60,655 shares of company stock worth $12,046,561 in the last 90 days. Corporate insiders own 0.25% of the company's stock.

Corning 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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