Corning Incorporated $GLW Holdings Trimmed by Bornite Capital Management LP

Bornite Capital Management LP decreased its holdings in Corning Incorporated (NYSE:GLW) by 12.0% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 730,000 shares of the electronics maker’s stock after selling 100,000 shares during the period. Corning comprises approximately 6.2% of Bornite Capital Management LP’s holdings, making the stock its 6th largest holding. Bornite Capital Management LP’s holdings in Corning were worth $63,919,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning in the third quarter worth $25,000. Berbice Capital Management LLC purchased a new stake in Corning in the fourth quarter worth $26,000. Basepoint Wealth LLC purchased a new stake in Corning in the fourth quarter worth $26,000. Litman Gregory Wealth Management LLC purchased a new stake in Corning in the fourth quarter worth $31,000. Finally, Evolution Wealth Management Inc. increased its stake in Corning by 58.8% in the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker’s stock worth $33,000 after purchasing an additional 141 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of GLW stock opened at $179.85 on Friday. Corning Incorporated has a 1-year low of $49.47 and a 1-year high of $211.79. The stock’s 50-day moving average is $177.15 and its 200 day moving average is $133.67. The company has a market cap of $154.79 billion, a P/E 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 current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share 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 company had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the company earned $0.54 earnings per share. The firm’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. Research analysts predict that Corning Incorporated will post 3.19 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. Shareholders of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Insiders Place Their Bets

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was 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 owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,561. 0.25% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts have weighed in on GLW shares. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Oppenheimer increased their price target on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Susquehanna increased their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Citigroup increased their price target on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Mizuho increased their price target on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research report on Tuesday, May 12th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

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.