Kornitzer Capital Management Inc. KS Cuts Position in Corning Incorporated $GLW

Kornitzer Capital Management Inc. KS trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 7.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 109,165 shares of the electronics maker’s stock after selling 8,245 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Corning were worth $9,558,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in GLW. Capital Research Global Investors purchased a new position in Corning in the third quarter valued at approximately $907,164,000. WCM Investment Management LLC purchased a new position in Corning in the third quarter valued at approximately $676,931,000. Wellington Management Group LLP increased its stake in Corning by 30.3% in the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the last quarter. Polar Capital Holdings Plc increased its stake in Corning by 141.2% in the third quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership purchased a new position in Corning in the third quarter valued at approximately $185,221,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Performance

Shares of GLW opened at $158.12 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The firm has a market cap of $135.84 billion, a PE ratio of 75.66, a price-to-earnings-growth ratio of 2.34 and a beta of 1.06. The company’s 50 day simple moving average is $148.66 and its 200-day simple moving average is $112.83. Corning Incorporated has a 12-month low of $44.33 and a 12-month high of $179.08.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same period last year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts predict that Corning Incorporated will post 3.17 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. Corning’s dividend payout ratio (DPR) is 53.59%.

Key Stories Impacting Corning

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Q1 results and AI tailwinds: Corning reported stronger-than-expected Q1 core sales with accelerating demand from AI/data?center optics, which underpins the stock’s large rally and longer-term upside from 5G and fiber expansion. Trefis: Is Corning Stock A Buy At 50 Times Earnings?
• Positive Sentiment: Sector/momentum bullishness: Analysts and screens (Zacks) highlight Corning as a momentum/communication?components play to tap booming AI, 5G and fiber demand, supporting renewed investor interest. Zacks: Buy 2 Communication Component Stocks
• Neutral Sentiment: Dividend maintained: Board declared a quarterly dividend of $0.28 per share (payable June 29, record May 29). The yield is modest but supports income investors. Yahoo Finance: Corning Announces Quarterly Dividend
• Neutral Sentiment: Market context: MarketBeat and other commentary flag Corning as an AI beneficiary but note a technical pullback after a steep run; some view today’s decline as a potentially buyable dip if AI demand persists. MarketBeat Week in Review
• Negative Sentiment: Analyst caution: Truist trimmed its stance to a Hold, signaling less near?term conviction and adding pressure after a large multi?month gain. Globe and Mail: Corning Receives a Hold from Truist
• Negative Sentiment: High?profile criticism and profit?taking: Jim Cramer characterized Corning’s move as an “Icarus moment,” and media pieces note the story “getting more complicated,” prompting selling after a roughly 250% one?year rally. Yahoo: Jim Cramer on Corning TheStreet: Corning stock falls

Insider Buying and Selling at Corning

In other news, SVP Li Fang sold 9,797 shares of the firm’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total transaction of $1,112,057.47. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Eric S. Musser sold 25,000 shares of the firm’s 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 owned 19,926 shares in the company, valued at approximately $2,191,860. This trade represents a 55.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 212,053 shares of company stock valued at $30,403,630. 0.25% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

GLW has been the topic of several recent analyst reports. Susquehanna increased their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday. Citigroup increased their price target on shares of Corning from $170.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday. UBS Group increased their price target on shares of Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 20th. HSBC reiterated a “buy” rating and issued a $135.00 price target on shares of Corning in a research note on Friday, February 13th. Finally, Mizuho set a $145.00 price target on shares of Corning in a research note on Monday, February 23rd. One analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $150.31.

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.