FineMark National Bank & Trust Has $837,000 Position in Corning Incorporated $GLW

FineMark National Bank & Trust grew its stake in Corning Incorporated (NYSE:GLW) by 26.1% in the second quarter, HoldingsChannel.com reports. The fund owned 15,907 shares of the electronics maker’s stock after acquiring an additional 3,288 shares during the period. FineMark National Bank & Trust’s holdings in Corning were worth $837,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of the company. Parkside Financial Bank & Trust grew its holdings in shares of Corning by 3.1% in the 2nd quarter. Parkside Financial Bank & Trust now owns 5,296 shares of the electronics maker’s stock valued at $278,000 after buying an additional 158 shares during the period. Zions Bancorporation National Association UT increased its holdings in shares of Corning by 3.3% in the second quarter. Zions Bancorporation National Association UT now owns 5,746 shares of the electronics maker’s stock worth $302,000 after acquiring an additional 185 shares in the last quarter. Forte Capital LLC ADV lifted its stake in Corning by 2.4% in the second quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock valued at $419,000 after buying an additional 190 shares in the last quarter. Westside Investment Management Inc. grew its stake in shares of Corning by 8.3% during the 2nd quarter. Westside Investment Management Inc. now owns 2,565 shares of the electronics maker’s stock worth $135,000 after acquiring an additional 197 shares in the last quarter. Finally, Aspen Investment Management Inc raised its position in Corning by 0.8% during the second quarter. Aspen Investment Management Inc now owns 25,214 shares of the electronics maker’s stock worth $1,326,000 after acquiring an additional 198 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Price Performance

NYSE:GLW opened at $81.74 on Thursday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56. The firm has a market cap of $70.08 billion, a price-to-earnings ratio of 51.73, a P/E/G ratio of 1.99 and a beta of 1.15. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57. The firm’s 50-day simple moving average is $83.83 and its 200 day simple moving average is $65.79.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company had revenue of $4.10 billion for the quarter, compared to analysts’ expectations of $4.24 billion. During the same period last year, the firm earned $0.54 earnings per share. The business’s revenue for the quarter was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, sell-side analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio is presently 70.89%.

Wall Street Analyst Weigh In

GLW has been the subject of a number of analyst reports. Susquehanna lifted their price objective on shares of Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Barclays boosted their price target on Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. raised their price target on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a report on Wednesday, October 29th. Finally, Argus increased their price objective on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $90.82.

Insider Activity at Corning

In other news, CFO Edward A. Schlesinger sold 20,893 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the sale, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 173,856 shares of company stock worth $15,456,476 in the last quarter. 0.32% of the stock is currently owned by corporate 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.