Fifth Third Bancorp Buys 603,128 Shares of Corning Incorporated $GLW

Fifth Third Bancorp grew its stake in Corning Incorporated (NYSE:GLW) by 709.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 688,166 shares of the electronics maker’s stock after buying an additional 603,128 shares during the period. Fifth Third Bancorp’s holdings in Corning were worth $93,570,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. Beirne Wealth Consulting Services LLC lifted its holdings in shares of Corning by 0.8% during the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after acquiring an additional 64 shares during the last quarter. Millstone Evans Group LLC raised its position in Corning by 1.3% during the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock valued at $733,000 after purchasing an additional 67 shares in the last quarter. Caldwell Trust Co raised its position in Corning by 0.5% during the first quarter. Caldwell Trust Co now owns 15,893 shares of the electronics maker’s stock valued at $2,161,000 after purchasing an additional 74 shares in the last quarter. KRS Capital Management LLC lifted its stake in Corning by 2.2% during the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock worth $552,000 after purchasing an additional 88 shares during the last quarter. Finally, Sheets Smith Wealth Management boosted its holdings in shares of Corning by 2.1% in the 1st quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock worth $605,000 after purchasing an additional 90 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction dated 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 approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 over the last ninety days. Insiders own 0.25% of the company’s stock.

Corning Trading Down 0.7%

GLW stock traded down $1.26 during trading on Friday, hitting $191.12. 5,343,797 shares of the company traded hands, compared to its average volume of 16,352,928. The firm has a market capitalization of $164.49 billion, a PE ratio of 91.45, a P/E/G ratio of 2.50 and a beta of 1.09. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $271.78. The company has a 50-day moving average of $193.19 and a 200-day moving average of $149.96. 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 announced its quarterly 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. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the firm earned $0.54 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is currently 53.59%.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning landed a major multibillion-dollar agreement with Amazon to expand U.S. optical fiber production for AI data centers, and it is also partnering with Nvidia to grow domestic manufacturing capacity for advanced optical solutions. The deals reinforce Corning’s position as a key supplier in AI infrastructure. Corning (GLW) Lands Amazon Deal And Nvidia Tie Up For AI Fiber Expansion
• Positive Sentiment: Recent bullish commentary says Corning’s fundamentals remain strong, citing 18% core sales growth and 30% core EPS growth in Q1, along with momentum in Optical Communications and its Solar segment. Analysts are pointing to AI-driven fiber demand as a potential catalyst for further earnings growth. Corning: AI Partnerships Mounting, Making The 30% Plunge Buyable
• Neutral Sentiment: Market-moving articles from Barron’s also flagged Corning as one of the notable stocks in the day’s AI-driven market move, reflecting renewed investor attention rather than a company-specific earnings surprise. Stock movers article
• Neutral Sentiment: One bearish note argues that Corning may not be cheap enough after the recent pullback, suggesting valuation remains a concern even with improving growth prospects. Corning: 30 Percent Cheaper Is Not Good Enough
• Negative Sentiment: Another valuation-focused article describes Corning as having “strong fundamentals” but an “unverifiable multiple,” reinforcing concerns that the stock’s premium could limit upside if AI growth fails to accelerate further. Corning: Strong Fundamentals Wrapped In An Unverifiable Multiple

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on GLW shares. Morgan Stanley set a $180.00 price objective on Corning in a research report on Friday, May 8th. Barclays upped their target price on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Susquehanna lifted their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. Oppenheimer boosted their price objective on shares of Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a report on Tuesday. Finally, Truist Financial upped their price objective on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average target price of $193.54.

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.