Corning Incorporated $GLW is Bornite Capital Management LP’s 6th Largest Position

Bornite Capital Management LP cut its position in Corning Incorporated (NYSE:GLW) by 12.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 730,000 shares of the electronics maker’s stock after selling 100,000 shares during the period. Corning comprises 6.2% of Bornite Capital Management LP’s portfolio, making the stock its 6th largest holding. Bornite Capital Management LP owned approximately 0.09% of Corning worth $63,919,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Merit Financial Group LLC boosted its stake in Corning by 16.9% in the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after purchasing an additional 6,493 shares during the period. Lansforsakringar Fondforvaltning AB publ boosted its stake in Corning by 4.9% in the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock worth $21,471,000 after purchasing an additional 12,297 shares during the period. Security National Bank boosted its stake in Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after purchasing an additional 56,056 shares during the period. Three Seasons Wealth LLC bought a new position in Corning in the 4th quarter worth approximately $1,750,000. Finally, Natixis Advisors LLC boosted its stake in Corning by 32.1% in the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after purchasing an additional 116,583 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Performance

NYSE:GLW opened at $179.85 on Friday. The stock’s fifty day moving average is $177.15 and its 200 day moving average is $133.67. Corning Incorporated has a fifty-two week low of $49.47 and a fifty-two week high of $211.79. The firm has a market capitalization of $154.79 billion, a PE ratio of 86.05, a PEG ratio of 2.56 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last released its quarterly earnings results 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 $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the prior year, the firm 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. On average, sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The business also recently declared 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 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning’s dividend payout ratio is presently 53.59%.

Insider Activity at Corning

In related news, 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 transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the 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 sale, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock worth $30,692,561 in the last ninety days. Corporate insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. JPMorgan Chase & Co. upped their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Bank of America upped their price target on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Citigroup upped their price objective on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Finally, Truist Financial upped their price objective on Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $178.31.

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.