Fifth Third Bancorp Increases Holdings in Corning Incorporated $GLW

Key Points

• Fifth Third Bancorp dramatically increased its Corning stake by 709.2% in the first quarter, adding 603,128 shares and ending with 688,166 shares valued at about $93.6 million.
• Corning continues to attract major institutional interest, with firms like Vanguard, State Street, Geode Capital, and others holding large positions; institutional investors now own 69.8% of the company.
• The stock has drawn attention from analysts and investors due to AI-related growth catalysts, including major fiber-optics deals with Amazon and Nvidia, while several analysts have raised price targets and maintained bullish ratings.

Fifth Third Bancorp increased its stake in Corning Incorporated (NYSE:GLW - Free Report) by 709.2% during the first quarter, according to its most recent filing with the SEC. The fund owned 688,166 shares of the electronics maker's stock after buying an additional 603,128 shares during the quarter. Fifth Third Bancorp owned 0.08% of Corning worth $93,570,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in GLW. Vanguard Group Inc. grew its position in shares of Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker's stock valued at $8,693,247,000 after acquiring an additional 580,678 shares during the period. State Street Corp lifted its stake in Corning by 1.2% in the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker's stock valued at $3,035,836,000 after purchasing an additional 439,883 shares during the last quarter. Geode Capital Management LLC lifted its stake in Corning by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker's stock valued at $1,781,250,000 after purchasing an additional 517,067 shares during the last quarter. Capital Research Global Investors grew its holdings in Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker's stock valued at $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. Finally, Wellington Management Group LLP increased its position in Corning by 30.3% in the third 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. Institutional investors own 69.80% of the company's stock.

Trending Headlines about Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning landed a major multibillion-dollar agreement with Amazon to expand U.S. optical fiber production for AI data centers, and it is also partnering with Nvidia to grow domestic manufacturing capacity for advanced optical solutions. The deals reinforce Corning’s position as a key supplier in AI infrastructure. Corning (GLW) Lands Amazon Deal And Nvidia Tie Up For AI Fiber Expansion
• Positive Sentiment: Recent bullish commentary says Corning’s fundamentals remain strong, citing 18% core sales growth and 30% core EPS growth in Q1, along with momentum in Optical Communications and its Solar segment. Analysts are pointing to AI-driven fiber demand as a potential catalyst for further earnings growth. Corning: AI Partnerships Mounting, Making The 30% Plunge Buyable
• Neutral Sentiment: Market-moving articles from Barron’s also flagged Corning as one of the notable stocks in the day’s AI-driven market move, reflecting renewed investor attention rather than a company-specific earnings surprise. Stock movers article
• Neutral Sentiment: One bearish note argues that Corning may not be cheap enough after the recent pullback, suggesting valuation remains a concern even with improving growth prospects. Corning: 30 Percent Cheaper Is Not Good Enough
• Negative Sentiment: Another valuation-focused article describes Corning as having “strong fundamentals” but an “unverifiable multiple,” reinforcing concerns that the stock’s premium could limit upside if AI growth fails to accelerate further. Corning: Strong Fundamentals Wrapped In An Unverifiable Multiple

Insider Buying and Selling at Corning

In other news, VP John Z. Zhang sold 10,000 shares of the company's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares of the company's stock, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction 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 sale, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 in the last ninety days. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

GLW has been the topic of several research reports. Truist Financial boosted their target price on Corning from $149.00 to $205.00 and gave the company a "hold" rating in a research note on Monday, June 22nd. Barclays lifted their price objective on Corning from $149.00 to $180.00 and gave the stock an "equal weight" rating in a report on Friday, May 8th. Citigroup upped their price objective on shares of Corning from $175.00 to $225.00 and gave the company a "buy" rating in a report on Thursday, May 7th. Oppenheimer lifted their target price on shares of Corning from $210.00 to $230.00 and gave the stock an "outperform" rating in a research note on Tuesday. Finally, Mizuho boosted their price target on shares of Corning from $220.00 to $270.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, Corning has an average rating of "Moderate Buy" and a consensus price target of $193.54.

Corning Stock Performance

Shares of NYSE:GLW traded down $1.26 during midday trading on Friday, reaching $191.12. 5,343,797 shares of the company traded hands, compared to its average volume of 16,352,928. 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 Incorporated has a 12 month low of $51.32 and a 12 month high of $271.78. The firm has a market capitalization of $164.49 billion, a price-to-earnings ratio of 91.45, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. The firm's fifty day moving average price is $193.19 and its two-hundred day moving average price is $149.96.

Corning (NYSE:GLW - Get Free Report) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the company earned $0.54 EPS. The firm's revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.6%. Corning's payout ratio is currently 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.

Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW - Free Report).

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.