BlackRock Amends Corning Inc. Stake, Maintains Significant Holding
Ticker: GLW · Form: SC 13G/A · Filed: Jan 26, 2024 · CIK: 24741
Complexity: simple
Sentiment: neutral
Topics: institutional-ownership, amendment, passive-investment
Related Tickers: GLW
TL;DR
**BlackRock still owns a big chunk of Corning, signaling institutional confidence.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 26, 2024, indicating its ownership of Corning Inc. (GLW) common stock as of December 31, 2023. This filing, Amendment No. 9, shows BlackRock continues to be a significant institutional holder, which can provide a sense of stability and institutional confidence for current and prospective investors in Corning Inc.
Why It Matters
Large institutional ownership by firms like BlackRock can signal confidence in a company's long-term prospects, potentially influencing other investors and stock stability.
Risk Assessment
Risk Level: low — This filing is a routine update from a major institutional investor and does not indicate any immediate negative risks for Corning Inc.
Analyst Insight
An investor should note BlackRock's continued significant stake in Corning Inc. as a sign of institutional confidence, but this routine update doesn't warrant immediate action beyond continued monitoring of Corning's fundamentals and BlackRock's future filings.
Key Players & Entities
- BlackRock Inc. (company) — the reporting person and institutional investor
- Corning Inc. /NY (company) — the subject company whose securities are being reported
- December 31, 2023 (date) — the date of the event requiring the filing
- January 26, 2024 (date) — the filing date of the SC 13G/A
- Amendment No. 9 (number) — the specific amendment number of the filing
FAQ
What type of filing is this document?
This document is an SC 13G/A, which is an amendment to a Schedule 13G filing, specifically Amendment No. 9, as stated in the filing's title and cover page.
Who is the reporting person in this filing?
The reporting person is BlackRock, Inc., as clearly identified under 'Names of reporting persons' on the cover page.
What is the subject company whose securities are being reported?
The subject company is CORNING INC /NY, as indicated under 'Name of Issuer' on the cover page and in the company data section.
What is the CUSIP number for the securities reported?
The CUSIP number for the Common Stock of Corning Inc. is 219350105, as listed on the cover page of the filing.
What was the date of the event that required this filing?
The date of the event which required the filing of this statement was December 31, 2023, as specified on the cover page.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 26, 2024 regarding CORNING INC /NY (GLW).