Corning Incorporated $GLW Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in Corning Incorporated (NYSE:GLW) by 5.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 91,251 shares of the electronics maker’s stock after selling 5,377 shares during the period. Fifth Third Bancorp’s holdings in Corning were worth $7,485,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in GLW. Hartline Investment Corp boosted its stake in shares of Corning by 113.2% during the 3rd quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker’s stock worth $24,229,000 after acquiring an additional 156,843 shares in the last quarter. Vanguard Group Inc. boosted its stake in Corning by 1.6% during the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after purchasing an additional 1,582,895 shares during the period. Schroder Investment Management Group increased its position in Corning by 638.0% in the 2nd quarter. Schroder Investment Management Group now owns 546,407 shares of the electronics maker’s stock worth $28,736,000 after buying an additional 472,365 shares during the period. Motley Fool Asset Management LLC lifted its holdings in shares of Corning by 10.5% during the second quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock worth $2,316,000 after buying an additional 4,183 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in shares of Corning during the third quarter worth approximately $3,355,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Corning stock opened at $130.16 on Wednesday. The company has a market cap of $111.67 billion, a PE ratio of 70.74, a PEG ratio of 2.31 and a beta of 1.13. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $136.82. The company’s 50-day moving average is $99.36 and its two-hundred day moving average is $86.00.

Corning (NYSE:GLW) last issued its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter in the previous year, the company earned $0.57 EPS. Corning’s revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.9%. Corning’s dividend payout ratio is 60.87%.

Insiders Place Their Bets

In other news, CFO Edward A. Schlesinger sold 21,104 shares of the company’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $104.55, for a total value of $2,206,423.20. Following the completion of the sale, the chief financial officer directly owned 54,780 shares of the company’s stock, valued at $5,727,249. This represents a 27.81% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Eric S. Musser sold 25,000 shares of Corning stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the transaction, the insider directly owned 19,926 shares in the company, valued at $2,191,860. The trade was a 55.65% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 95,687 shares of company stock worth $11,249,008 over the last three months. Insiders own 0.40% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the company. Argus lifted their target price on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Wolfe Research set a $130.00 price objective on shares of Corning and gave the stock an “outperform” rating in a report on Tuesday, January 27th. Oppenheimer set a $120.00 target price on Corning in a report on Thursday, January 29th. Citigroup raised their price target on Corning from $102.00 to $120.00 and gave the company a “buy” rating in a report on Thursday, January 29th. Finally, Mizuho boosted their price objective on Corning from $97.00 to $120.00 and gave the stock an “outperform” rating in a research note on Thursday, January 29th. Ten analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $114.25.

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.