Institute for Wealth Management LLC. Lowers Stock Holdings in Corning Incorporated $GLW

Institute for Wealth Management LLC. trimmed its stake in Corning Incorporated (NYSE:GLW) by 5.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,093 shares of the electronics maker’s stock after selling 617 shares during the period. Institute for Wealth Management LLC.’s holdings in Corning were worth $531,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. Forte Capital LLC ADV increased its stake in shares of Corning by 2.4% in the second quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock worth $419,000 after acquiring an additional 190 shares during the period. Smith Salley Wealth Management increased its stake in shares of Corning by 3.3% in the second quarter. Smith Salley Wealth Management now owns 6,280 shares of the electronics maker’s stock worth $330,000 after acquiring an additional 200 shares during the period. Leigh Baldwin & CO. LLC increased its stake in shares of Corning by 1.7% in the first quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker’s stock worth $573,000 after acquiring an additional 210 shares during the period. Old North State Wealth Management LLC increased its stake in shares of Corning by 0.5% in the second quarter. Old North State Wealth Management LLC now owns 40,325 shares of the electronics maker’s stock worth $2,121,000 after acquiring an additional 218 shares during the period. Finally, Harbour Investments Inc. increased its stake in shares of Corning by 2.4% in the first quarter. Harbour Investments Inc. now owns 9,489 shares of the electronics maker’s stock worth $434,000 after acquiring an additional 224 shares during the period. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Stock Performance

GLW opened at $83.10 on Thursday. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The company has a market cap of $71.18 billion, a price-to-earnings ratio of 88.40, a PEG ratio of 1.83 and a beta of 1.14. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $83.75. The firm’s fifty day simple moving average is $69.64 and its two-hundred day simple moving average is $55.42.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same period last year, the firm posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on the stock. Wolfe Research began coverage on shares of Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. Argus restated a “buy” rating and set a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. Citigroup raised their price target on shares of Corning from $72.00 to $93.00 and gave the company a “buy” rating in a research report on Wednesday, September 24th. Susquehanna restated a “positive” rating and set a $75.00 price target (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Finally, Oppenheimer restated an “outperform” rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $70.08.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 82,103 shares of the firm’s stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the transaction, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. This trade represents a 9.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Avery H. Nelson III sold 36,240 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the transaction, the chief operating officer directly owned 64,838 shares in the company, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 181,671 shares of company stock valued at $11,816,899. Insiders own 0.40% of the company’s stock.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.