Corning Incorporated $GLW Shares Bought by Bank of New York Mellon Corp

Key Points

• Bank of New York Mellon increased its stake in Corning by 16.5% in the fourth quarter, holding 6.77 million shares valued at about $592.3 million.
• Corning reported better-than-expected quarterly results, with EPS of $0.70 and revenue of $4.35 billion, and it also raised Q2 2026 guidance to $0.73-$0.77 per share.
• The company announced a quarterly dividend of $0.28 per share, payable June 29, while analysts remain broadly positive with a consensus rating of “Moderate Buy.”

Bank of New York Mellon Corp grew its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 16.5% in the fourth quarter, according to its most recent filing with the SEC. The fund owned 6,765,011 shares of the electronics maker's stock after acquiring an additional 957,838 shares during the period. Bank of New York Mellon Corp owned about 0.79% of Corning worth $592,344,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Berbice Capital Management LLC acquired a new stake in shares of Corning during the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new stake in shares of Corning during the 4th quarter valued at $26,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning during the 3rd quarter valued at $25,000. Strengthening Families & Communities LLC acquired a new stake in shares of Corning during the 3rd quarter valued at $27,000. Finally, Cornerstone Planning Group LLC lifted its position in shares of Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock valued at $30,000 after acquiring an additional 124 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Transactions at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, VP John Z. Zhang sold 10,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 60,655 shares of company stock worth $12,046,561. Corporate insiders own 0.25% of the company's stock.

Corning Price Performance

Shares of NYSE:GLW opened at $201.40 on Thursday. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1 year low of $49.47 and a 1 year high of $211.79. The business has a fifty day simple moving average of $171.25 and a 200 day simple moving average of $129.11. The firm has a market cap of $173.33 billion, a price-to-earnings ratio of 96.36, a P/E/G ratio of 2.87 and a beta of 1.15.

Corning (NYSE:GLW - Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm's revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning's dividend payout ratio is currently 53.59%.

Analysts Set New Price Targets

A number of brokerages have recently commented on GLW. UBS Group increased their price objective on Corning from $179.00 to $223.00 and gave the company a "buy" rating in a research report on Thursday, May 7th. Weiss Ratings reiterated a "buy (b-)" rating on shares of Corning in a research report on Friday, May 15th. Truist Financial increased their price objective on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research report on Wednesday, April 29th. Bank of America boosted their target price on shares of Corning from $155.00 to $186.00 and gave the company a "buy" rating in a research note on Monday, April 20th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company's stock. According to MarketBeat, Corning currently has an average rating of "Moderate Buy" and an average target price of $177.92.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.