Bornite Capital Management LP Makes New $68.09 Million Investment in Corning Incorporated $GLW

Bornite Capital Management LP purchased a new stake in shares of Corning Incorporated (NYSE:GLW) during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 830,000 shares of the electronics maker’s stock, valued at approximately $68,085,000. Corning accounts for about 6.3% of Bornite Capital Management LP’s portfolio, making the stock its 2nd biggest position.

A number of other hedge funds have also recently made changes to their positions in the business. MJP Associates Inc. ADV purchased a new stake in shares of Corning during the third quarter worth about $219,000. Essex Financial Services Inc. lifted its holdings in Corning by 4.2% in the 3rd quarter. Essex Financial Services Inc. now owns 9,891 shares of the electronics maker’s stock worth $811,000 after purchasing an additional 401 shares in the last quarter. First National Bank of Omaha bought a new position in Corning in the 3rd quarter worth approximately $4,735,000. Ingalls & Snyder LLC grew its holdings in Corning by 7.8% during the 3rd quarter. Ingalls & Snyder LLC now owns 18,033 shares of the electronics maker’s stock valued at $1,479,000 after buying an additional 1,309 shares in the last quarter. Finally, Cornerstone Advisory LLC raised its position in shares of Corning by 3.1% during the third quarter. Cornerstone Advisory LLC now owns 8,803 shares of the electronics maker’s stock valued at $722,000 after buying an additional 265 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Trading Up 1.3%

GLW stock opened at $132.25 on Thursday. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company’s 50-day simple moving average is $100.12 and its 200-day simple moving average is $86.32. The firm has a market cap of $113.46 billion, a P/E ratio of 71.88, a PEG ratio of 2.26 and a beta of 1.13. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $136.82.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business 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 earnings per share. The company’s quarterly revenue was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, equities analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio (DPR) is currently 60.87%.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on GLW shares. Oppenheimer set a $120.00 target price on shares of Corning in a research note on Thursday, January 29th. Susquehanna lifted their price target on shares of Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Morgan Stanley lifted their target price on Corning from $98.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 29th. Wolfe Research set a $130.00 price objective on Corning and gave the stock an “outperform” rating in a report on Tuesday, January 27th. Finally, Barclays set a $100.00 target price on Corning in a report on Thursday, January 29th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $114.25.

Insider Buying and Selling

In other news, COO Avery H. Nelson III sold 1,583 shares of the business’s stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $128.74, for a total transaction of $203,795.42. Following the transaction, the chief operating officer owned 59,788 shares of the company’s stock, valued at approximately $7,697,107.12. The trade was a 2.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Li Fang sold 9,797 shares of the firm’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total transaction of $1,112,057.47. The SEC filing for this sale provides additional information. Insiders sold 95,687 shares of company stock worth $11,249,008 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

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.