Corning Incorporated $GLW Shares Bought by Fidelis Capital Partners LLC

Key Points

• Fidelis Capital Partners increased its Corning stake by 79.5% in the fourth quarter, buying 6,402 additional shares and ending with 14,451 shares valued at about $1.265 million.
• Corning saw mixed insider activity, with SVP Michaune D. Tillman and SVP Jaymin Amin both selling shares; insiders sold 60,655 shares worth about $12.0 million over the last quarter.
• Analysts remain broadly positive on the stock, with Corning carrying a Moderate Buy consensus and reporting strong recent results, including Q1 EPS and revenue that both topped estimates.

Fidelis Capital Partners LLC boosted its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 79.5% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 14,451 shares of the electronics maker's stock after acquiring an additional 6,402 shares during the quarter. Fidelis Capital Partners LLC's holdings in Corning were worth $1,265,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in GLW. Capital Research Global Investors acquired a new stake in Corning during the 3rd quarter worth approximately $907,164,000. WCM Investment Management LLC acquired a new stake in Corning during the 3rd quarter worth approximately $676,931,000. Wellington Management Group LLP lifted its position in Corning by 30.3% during 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 acquiring an additional 3,848,540 shares during the period. Polar Capital Holdings Plc lifted its position in Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock worth $329,035,000 after acquiring an additional 2,348,125 shares during the period. Finally, Arrowstreet Capital Limited Partnership acquired a new stake in Corning during the 3rd quarter worth approximately $185,221,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of the firm's stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company's stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the firm's stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares of the company's stock, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 60,655 shares of company stock valued at $12,046,561. Company insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Barclays increased their price objective on Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a research report on Friday, May 8th. HSBC reissued a "buy" rating and set a $135.00 target price on shares of Corning in a research note on Friday, February 13th. Morgan Stanley set a $180.00 target price on Corning in a research note on Friday, May 8th. Citigroup increased their target price on Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Finally, UBS Group increased their target price on Corning from $179.00 to $223.00 and gave the stock a "buy" rating in a research note on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, Corning has an average rating of "Moderate Buy" and an average price target of $177.92.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning continues to benefit from investor enthusiasm around AI-driven optical connectivity and photonics, which has helped support the stock’s strong year-to-date rally.
• Positive Sentiment: Recent commentary highlighted upside tied to Corning’s solar and life sciences businesses, with analysts pointing to potential growth from U.S. tariff protection, domestic capacity expansion, and new product opportunities.
• Positive Sentiment: The company’s last earnings report beat expectations slightly, with revenue and EPS both topping estimates and management guiding Q2 EPS above prior levels.
• Neutral Sentiment: Wall Street sentiment remains constructive overall, with Corning carrying a “Moderate Buy” consensus and several recent price targets clustered around the current trading range.
• Neutral Sentiment: The upcoming ex-dividend date may be contributing to some short-term position adjustment, though the dividend yield is modest.
• Negative Sentiment: Sentiment was weighed down by a Zacks Research downgrade from “strong-buy” to “hold,” which can encourage traders to lock in gains after the rally.
• Negative Sentiment: Recent insider selling, including a notable sale by SVP and CTO Jaymin Amin, has added to near-term caution and may be reinforcing concerns about valuation after the stock’s sharp advance.

Corning Stock Performance

Shares of GLW stock opened at $183.06 on Friday. The company has a market cap of $157.55 billion, a price-to-earnings ratio of 87.59, a price-to-earnings-growth ratio of 2.73 and a beta of 1.14. The stock has a 50 day simple moving average of $166.43 and a 200-day simple moving average of $126.21. Corning Incorporated has a 12-month low of $48.88 and a 12-month high of $211.79. 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 (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company's revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current 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 paid a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning's dividend payout ratio (DPR) is presently 53.59%.

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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