Kornitzer Capital Management Inc. KS Sells 8,245 Shares of Corning Incorporated $GLW

Key Points

• Kornitzer Capital Management trimmed its Corning stake by 7%, selling 8,245 shares and ending the quarter with 109,165 shares valued at about $9.56 million.
• Corning beat Q1 estimates (EPS $0.70 vs $0.69; revenue $4.35B vs $4.30B, +18.1% YoY) but issued Q2 guidance of $0.73–0.77, and the stock pulled back after a recent sharp rally.
• Significant insider selling occurred recently — insiders sold 212,053 shares in the past three months (including CEO Wendell P. Weeks' sale of 137,514 shares) while institutional investors own about 69.8% of the stock.

Kornitzer Capital Management Inc. KS decreased its position in Corning Incorporated (NYSE:GLW - Free Report) by 7.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 109,165 shares of the electronics maker's stock after selling 8,245 shares during the quarter. Kornitzer Capital Management Inc. KS's holdings in Corning were worth $9,558,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Merit Financial Group LLC lifted its position in Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock valued at $3,940,000 after buying an additional 6,493 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ lifted its position in Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker's stock valued at $21,471,000 after buying an additional 12,297 shares during the last quarter. Hartline Investment Corp lifted its position in Corning by 113.2% in the third quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker's stock valued at $24,229,000 after buying an additional 156,843 shares during the last quarter. Three Seasons Wealth LLC acquired a new position in Corning in the fourth quarter valued at about $1,750,000. Finally, Natixis Advisors LLC lifted its position in Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker's stock valued at $39,367,000 after buying an additional 116,583 shares during the last quarter. Institutional investors 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 results and AI tailwinds: Corning reported stronger-than-expected Q1 core sales with accelerating demand from AI/data‑center optics, which underpins the stock’s large rally and longer-term upside from 5G and fiber expansion. Trefis: Is Corning Stock A Buy At 50 Times Earnings?
• Positive Sentiment: Sector/momentum bullishness: Analysts and screens (Zacks) highlight Corning as a momentum/communication‑components play to tap booming AI, 5G and fiber demand, supporting renewed investor interest. Zacks: Buy 2 Communication Component Stocks
• Neutral Sentiment: Dividend maintained: Board declared a quarterly dividend of $0.28 per share (payable June 29, record May 29). The yield is modest but supports income investors. Yahoo Finance: Corning Announces Quarterly Dividend
• Neutral Sentiment: Market context: MarketBeat and other commentary flag Corning as an AI beneficiary but note a technical pullback after a steep run; some view today’s decline as a potentially buyable dip if AI demand persists. MarketBeat Week in Review
• Negative Sentiment: Analyst caution: Truist trimmed its stance to a Hold, signaling less near‑term conviction and adding pressure after a large multi‑month gain. Globe and Mail: Corning Receives a Hold from Truist
• Negative Sentiment: High‑profile criticism and profit‑taking: Jim Cramer characterized Corning’s move as an “Icarus moment,” and media pieces note the story “getting more complicated,” prompting selling after a roughly 250% one‑year rally. Yahoo: Jim Cramer on Corning TheStreet: Corning stock falls

Corning Stock Down 3.7%

Shares of GLW opened at $158.12 on Friday. The stock has a market capitalization of $135.84 billion, a PE ratio of 75.66, a P/E/G ratio of 2.34 and a beta of 1.06. Corning Incorporated has a 1 year low of $44.33 and a 1 year high of $179.08. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.61. The company's 50-day simple moving average is $148.66 and its 200-day simple moving average is $112.83.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. The business had revenue of $4.35 billion for the quarter, compared to analysts' expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business's quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts forecast that Corning Incorporated will post 3.17 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, May 29th. Corning's dividend payout ratio is currently 53.59%.

Insider Buying and Selling at Corning

In related news, EVP Lewis A. Steverson sold 15,366 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the sale, the executive vice president directly owned 3,461 shares in the company, valued at approximately $450,691.42. This represents a 81.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the sale, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. The trade was a 15.48% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 212,053 shares of company stock valued at $30,403,630. Corporate insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on GLW shares. Morgan Stanley upped their target price on shares of Corning from $127.00 to $140.00 and gave the company an "equal weight" rating in a research report on Monday, April 20th. Truist Financial upped their target price on shares of Corning from $125.00 to $149.00 and gave the company a "hold" rating in a research report on Wednesday. Zacks Research raised shares of Corning from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. HSBC reaffirmed a "buy" rating and issued a $135.00 target price on shares of Corning in a research report on Friday, February 13th. Finally, Susquehanna increased their price target on shares of Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a research report on Wednesday. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $150.31.

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.

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