Valmark Advisers Inc. Sells 745 Shares of Corning Incorporated $GLW

Valmark Advisers Inc. lessened its holdings in Corning Incorporated (NYSE:GLW) by 10.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,484 shares of the electronics maker’s stock after selling 745 shares during the period. Valmark Advisers Inc.’s holdings in Corning were worth $341,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. REAP Financial Group LLC raised its stake in Corning by 191.5% in the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 339 shares during the period. Investment Management Corp VA ADV grew its holdings in Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after buying an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after buying an additional 353 shares in the last quarter. Resources Management Corp CT ADV grew its holdings in Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after buying an additional 300 shares in the last quarter. Finally, Gen Wealth Partners Inc grew its holdings in Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after buying an additional 455 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

NYSE:GLW opened at $83.00 on Friday. The stock has a fifty day moving average price of $73.19 and a 200-day moving average price of $57.18. The company has a market cap of $71.10 billion, a price-to-earnings ratio of 88.30, a PEG ratio of 1.95 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78.

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

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Investors of record on Friday, November 14th will be paid a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.3%. Corning’s dividend payout ratio (DPR) is 119.15%.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on the company. Mizuho upped their price objective on Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, October 3rd. Argus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Corning in a report on Wednesday, July 30th. UBS Group upped their price objective on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. JPMorgan Chase & Co. upped their price objective on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Finally, Morgan Stanley upped their target price on Corning from $56.00 to $75.00 and gave the company an “equal weight” rating in a research report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Insiders Place Their Bets

In related news, EVP Lewis A. Steverson sold 16,646 shares of the firm’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares of the company’s stock, valued at $2,473,804.98. This trade represents a 29.51% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through 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 shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the sale, the chief operating officer directly owned 64,838 shares in the company, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock valued at $11,816,899 over the last ninety days. 0.40% of the stock is owned by insiders.

About Corning

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.