Keybank National Association OH Has $95.65 Million Stock Position in Corning Incorporated $GLW

Key Points

• Keybank National Association OH trimmed its Corning stake by 1.4% in the first quarter, but still owned 703,463 shares worth about $95.65 million at quarter-end.
• Corning continues to benefit from strong bullish sentiment tied to AI-driven fiber and data-center demand, with Mizuho raising its price target to $270 and keeping an outperform rating.
• The company has also seen notable insider selling and faces some risks, including competition, China exposure, and consumer electronics weakness, even as analysts maintain a moderate buy consensus.

Keybank National Association OH reduced its stake in Corning Incorporated (NYSE:GLW - Free Report) by 1.4% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 703,463 shares of the electronics maker's stock after selling 10,267 shares during the period. Keybank National Association OH owned 0.08% of Corning worth $95,650,000 at the end of the most recent quarter.

Other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in shares of 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 acquiring an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new position in Corning during the first quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in 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 valued at $2,962,000 after purchasing an additional 5,522 shares during the period. Sivia Capital Partners LLC bought a new stake in Corning in the second quarter valued at approximately $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in Corning in the second quarter valued at approximately $266,000. 69.80% of the stock is owned by institutional investors and hedge funds.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Mizuho raised its price target on Corning to $270 from $220 and kept an outperform rating, signaling confidence that the AI/data-center buildout still supports further upside. Benzinga report on Mizuho price target hike
• Positive Sentiment: Several reports highlighted Corning’s exposure to AI-driven fiber demand, new hyperscaler deals, and margin improvement, which are helping explain why the stock has surged over the past year. Yahoo Finance article on Corning stock gains
• Positive Sentiment: Analyst and momentum coverage continues to describe Corning as a strong long-term momentum name, reinforcing the bullish narrative around secular growth in connectivity and data-center infrastructure. Zacks momentum article on Corning
• Neutral Sentiment: Commentary noted Corning has delivered an exceptional multi-year advance, which keeps the stock in focus for investors evaluating whether the valuation can be sustained after such a steep rally. MSN/Zacks momentum coverage
• Negative Sentiment: One article said Corning’s 13.6% single-day drop may reflect investor concerns that the AI fiber trade is cracking, though it could also simply be a pullback after a parabolic move. 247WallSt article on Corning drop
• Negative Sentiment: Risks remain from competition, China exposure, and consumer electronics weakness, which could limit how much of the AI-driven optimism translates into earnings growth. Yahoo Finance risk discussion

Insider Activity

In other news, CEO Wendell P. Weeks sold 100,000 shares of the company's stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction that occurred on Monday, May 11th. The shares were 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 directly owned 10,174 shares of the company's stock, 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. Over the last three months, insiders have sold 160,655 shares of company stock worth $30,692,560. Corporate insiders own 0.25% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. Truist Financial lifted their price target on shares of Corning from $149.00 to $205.00 and gave the stock a "hold" rating in a research report on Monday, June 22nd. JPMorgan Chase & Co. upped their price objective on shares of Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a research report on Thursday, May 7th. Citigroup lifted their target price on Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a report on Thursday, May 7th. Mizuho boosted their target price on Corning from $220.00 to $270.00 and gave the company an "outperform" rating in a research note on Wednesday. Finally, Susquehanna increased their price target on Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a report on Wednesday, April 29th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $186.46.

Corning Trading Down 11.1%

Shares of NYSE:GLW opened at $196.12 on Friday. The company's 50-day moving average price is $190.04 and its two-hundred day moving average price is $146.03. Corning Incorporated has a one year low of $51.32 and a one year high of $271.78. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market capitalization of $168.79 billion, a PE ratio of 93.84, a price-to-earnings-growth ratio of 3.16 and a beta of 1.09.

Corning (NYSE:GLW - Get Free Report) last announced 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. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion during the quarter, compared to analysts' expectations of $4.30 billion. During the same quarter last year, the company earned $0.54 EPS. Corning's revenue for the quarter 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 forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given 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 dividend yield of 0.6%. Corning's payout ratio is 53.59%.

Corning Company 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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