Corning Incorporated $GLW Stake Lifted by Keybank National Association OH

Key Points

• KeyBank National Association OH raised its Corning stake by 102.6%, buying an additional 361,507 shares to hold 713,730 shares worth about $62.5 million (0.08% of the company) as of the latest 13F filing.
• Corning beat Q1 estimates with $0.70 EPS and $4.35B revenue—driven by strong Optical Communications and Solar demand tied to Gen‑AI and hyperscale data centers—but a softer Q2 revenue guide sparked a sharp market pullback, sending the stock down roughly 8.9–10%.

Keybank National Association OH boosted its stake in Corning Incorporated (NYSE:GLW - Free Report) by 102.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 713,730 shares of the electronics maker's stock after buying an additional 361,507 shares during the period. Keybank National Association OH owned 0.08% of Corning worth $62,494,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Brighton Jones LLC lifted its position in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker's stock valued at $319,000 after purchasing an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new stake in shares of Corning during the first quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker's stock worth $2,962,000 after buying an additional 5,522 shares during the period. Sivia Capital Partners LLC bought a new position in Corning in the 2nd quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. bought a new position in Corning in the 2nd quarter worth approximately $266,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Q1 beat on the headline metrics: core sales rose ~18% to about $4.34–4.35B and adjusted EPS was $0.70 (above consensus by a penny). Optical Communications and Solar were standout drivers (optical +36%, solar +80%), reflecting strong Gen‑AI and hyperscale data‑center demand. Corning Announces Strong First-Quarter 2026 Financial Results
• Positive Sentiment: Operational momentum: margins expanded and management cited new hyperscale customers and continued Gen‑AI-driven optical demand — evidence that Corning is capturing AI buildout spend. GLW Q1 Earnings Match Estimates, Revenues Beat on Optical Strength
• Neutral Sentiment: Q2 EPS guidance was issued at $0.73–$0.77 (around consensus ~$0.75) — not a major surprise on profit per share, but it leaves the emphasis on the revenue line. Corning Q2 Guidance (press materials)
• Neutral Sentiment: Earnings call transcript and slides provide detail on end‑market trends and inventory/seasonality commentary that investors should read to parse near‑term cadence vs. longer‑term AI tailwinds. Q1 2026 Earnings Call Transcript
• Negative Sentiment: Revenue outlook disappointed: management’s Q2 revenue guidance (~$4.6B) was cited as below Street expectations by some, and that topline miss (and talk of consumer‑electronics weakness) triggered the selloff despite the beat. Corning faces consumer electronics drag even as data‑center business booms
• Negative Sentiment: Market reaction amplified: headlines and intraday flows led to a sharp pullback (reports of ~10% moves), helped by broader AI‑capex sensitivity after other AI infra signals; this forced short‑term de‑risking by momentum investors. Red-hot Corning shares slide on earnings

Corning Trading Down 8.9%

Corning stock opened at $152.98 on Wednesday. Corning Incorporated has a 1 year low of $42.00 and a 1 year high of $179.08. The firm's 50 day moving average price is $147.58 and its two-hundred day moving average price is $112.19. The firm has a market cap of $131.41 billion, a price-to-earnings ratio of 83.14, a price-to-earnings-growth ratio of 2.41 and a beta of 1.06. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping 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 $4.28 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The company's revenue was up 18.1% compared to the same quarter last year. During the same period last year, the company posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts predict that Corning Incorporated will post 3.15 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Investors of record on Friday, February 27th were given a $0.28 dividend. The ex-dividend date was Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning's dividend payout ratio (DPR) is 60.87%.

Insider Transactions at Corning

In other Corning news, CFO Edward A. Schlesinger sold 21,104 shares of the firm's stock in a transaction dated Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the completion of the transaction, the chief financial officer directly owned 54,780 shares in the company, valued at $5,727,249. This trade represents a 27.81% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, SVP Li Fang sold 9,797 shares of the company's stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total transaction of $1,112,057.47. The SEC filing for this sale provides additional information. Insiders have sold a total of 233,201 shares of company stock worth $32,614,558 in the last three months. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the company. JPMorgan Chase & Co. downgraded Corning from an "overweight" rating to a "neutral" rating and lifted their target price for the company from $115.00 to $175.00 in a research note on Thursday, April 16th. Wolfe Research set a $130.00 price target on Corning and gave the stock an "outperform" rating in a research note on Tuesday, January 27th. Morgan Stanley raised their price target on Corning from $127.00 to $140.00 and gave the company an "equal weight" rating in a report on Monday, April 20th. Bank of America lifted their price objective 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, Weiss Ratings raised shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, Corning has a consensus rating of "Moderate Buy" and a consensus price target of $140.08.

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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