Bank of New York Mellon Corp Sells 586,829 Shares of Corning Incorporated $GLW

Bank of New York Mellon Corp decreased its position in shares of Corning Incorporated (NYSE:GLW) by 8.7% during the first quarter, according to its most recent filing with the SEC. The firm owned 6,178,182 shares of the electronics maker’s stock after selling 586,829 shares during the period. Bank of New York Mellon Corp owned about 0.72% of Corning worth $840,047,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its stake in shares of Corning by 0.6% in the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock worth $8,693,247,000 after acquiring an additional 580,678 shares in the last quarter. State Street Corp boosted its stake in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after acquiring an additional 439,883 shares in the last quarter. Geode Capital Management LLC grew its holdings 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 worth $1,781,250,000 after purchasing an additional 517,067 shares during the period. Capital Research Global Investors grew its holdings in Corning by 52.7% in the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in shares of Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after purchasing an additional 1,036,988 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Citigroup lifted their target price on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a report on Monday. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Barclays boosted their target price on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Finally, Morgan Stanley set a $180.00 target price on Corning in a research note on Friday, May 8th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Stock Performance

Shares of GLW opened at $158.50 on Friday. The business’s fifty day simple moving average is $193.45 and its two-hundred day simple moving average is $152.83. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12 month low of $53.18 and a 12 month high of $271.78. The company has a market cap of $136.41 billion, a price-to-earnings ratio of 75.84, a P/E/G ratio of 2.29 and a beta of 1.09.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts anticipate that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s payout ratio is 53.59%.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Technical watchers say GLW is testing its 80-day moving average, a level that has historically acted as a bullish support area, which could hint at upside if the stock stabilizes. Corning Stock Signal Hints at Upside Potential Amid Breather
• Neutral Sentiment: Corning’s upcoming earnings report is in focus, with investors waiting to see whether recent AI-related optimism and strong operating trends can justify the stock’s elevated valuation. Corning earnings preview: What to expect
• Negative Sentiment: JPMorgan put Corning on “Negative Catalyst Watch” ahead of earnings, citing valuation concerns, which signals limited near-term upside if results do not exceed expectations. Corning lands on JP Morgan’s ‘Negative Catalyst Watch’ ahead of earnings due to valuation
• Negative Sentiment: Recent commentary also highlights executive sales and earnings uncertainty, adding to concerns that the stock may have run too far ahead of fundamentals. Corning (GLW) Stock Plunges 8% Amid Executive Sales and Earnings Uncertainty
• Negative Sentiment: One valuation-focused report says Corning no longer looks obviously cheap after its strong three-year run, with DCF estimates near the share price and market multiples appearing expensive. Corning (GLW) Stock Could Be 7% Above Fair Value On AI Selloff

Insider Buying and Selling at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

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.