Olstein Capital Management L.P. Decreases Holdings in Corning Incorporated $GLW

Olstein Capital Management L.P. decreased its position in Corning Incorporated (NYSE:GLW - Free Report) by 34.1% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 30,000 shares of the electronics maker's stock after selling 15,500 shares during the quarter. Olstein Capital Management L.P.'s holdings in Corning were worth $2,627,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also bought and sold shares of the company. MGO One Seven LLC raised its stake in shares of Corning by 17.9% during the fourth quarter. MGO One Seven LLC now owns 87,994 shares of the electronics maker's stock worth $7,705,000 after acquiring an additional 13,389 shares in the last quarter. Crestwood Advisors Group LLC boosted its stake in shares of Corning by 181.7% in the 4th quarter. Crestwood Advisors Group LLC now owns 40,031 shares of the electronics maker's stock valued at $3,505,000 after purchasing an additional 25,822 shares in the last quarter. Maple Capital Management Inc. bought a new position in shares of Corning during the 4th quarter valued at $1,248,000. Retirement Planning Group LLC bought a new position in shares of Corning during the 4th quarter valued at $292,000. Finally, Sequoia Financial Advisors LLC raised its position in Corning by 17.3% in the 4th quarter. Sequoia Financial Advisors LLC now owns 46,815 shares of the electronics maker's stock worth $4,099,000 after purchasing an additional 6,900 shares during the period. Hedge funds and other institutional investors own 69.80% of the company's stock.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Nvidia committed several billion to help fund new Corning factories and is taking an equity stake (up to ~$3.2B disclosed), meaning Corning gets near‑term capital and a large customer committed to absorbing expanded output. Nvidia funds construction of Corning plants, in addition to equity investment
• Positive Sentiment: Multiyear commercial and technology partnership (including a reported $500M initial investment/warrant structure) will expand U.S. optical connectivity capacity — Corning says it will increase U.S. photonics capacity ~10x and build multiple new plants, locking long‑term hyperscale demand. Nvidia CEO says AI partnership with Corning will 'revitalize American manufacturing'
• Positive Sentiment: Major Wall Street firms bumped targets after the deal: Citigroup raised its PT to $225 and kept a Buy rating, and Oppenheimer lifted its PT to $210 with an Outperform — both signal higher analyst conviction on growth from photonics and Springboard upgrades. Benzinga coverage of analyst price target changes
• Neutral Sentiment: JPMorgan raised its price target modestly to $185 but kept a Neutral stance, reflecting some caution on valuation despite acknowledging the partnership’s strategic value. Benzinga coverage of JPMorgan price target change
• Neutral Sentiment: Some optics names are pulling back as the AI optics trade takes a breather — this shows sector rotation and short‑term volatility even as Corning secures large contracts. Applied Optoelectronics Crashes 14%, Coherent Slides 10%, Lumentum Falls 7 as Optics Trade Cools
• Negative Sentiment: Valuation is elevated (trailing P/E ~87 per recent data) and the rally already reflects aggressive forward revenue and margin assumptions — execution, plant build timelines and contract fulfillment are key risks that could trigger a pullback if targets slip.

Insider Buying and Selling

In related news, insider Eric S. Musser sold 15,000 shares of Corning stock in a transaction on Monday, February 9th. The shares were sold at an average price of $130.25, for a total value of $1,953,750.00. Following the sale, the insider owned 4,926 shares in the company, valued at $641,611.50. The trade was a 75.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Avery H. Nelson III sold 1,583 shares of the business's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $128.74, for a total transaction of $203,795.42. Following the transaction, the chief operating officer owned 59,788 shares in the company, valued at $7,697,107.12. This represents a 2.58% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 177,256 shares of company stock valued at $26,541,572 over the last three months. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on GLW. Mizuho set a $145.00 price target on shares of Corning in a research report on Monday, February 23rd. Truist Financial increased their target price on Corning from $125.00 to $149.00 and gave the company a "hold" rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. lifted their price target on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research note on Thursday. Susquehanna increased their price objective on Corning from $125.00 to $180.00 and gave the company a "positive" rating in a research note on Wednesday, April 29th. Finally, HSBC restated a "buy" rating and issued a $135.00 target price on shares of Corning in a report on Friday, February 13th. One investment analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $166.69.

Corning Stock Up 0.6%

NYSE GLW opened at $182.71 on Friday. Corning Incorporated has a 1 year low of $44.83 and a 1 year high of $195.81. The stock has a market capitalization of $157.24 billion, a PE ratio of 87.42, a PEG ratio of 2.59 and a beta of 1.14. 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 business's 50-day moving average is $150.46 and its 200 day moving average is $115.11.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts' consensus estimates 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 $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the company posted $0.54 EPS. Corning's quarterly 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. Sell-side analysts forecast that Corning Incorporated will post 3.17 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's dividend payout ratio is currently 53.59%.

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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