MFG Wealth Management Inc. Has $2.11 Million Holdings in Corning Incorporated $GLW

MFG Wealth Management Inc. decreased its position in shares of Corning Incorporated (NYSE:GLW) by 22.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 25,668 shares of the electronics maker’s stock after selling 7,413 shares during the quarter. Corning comprises approximately 1.6% of MFG Wealth Management Inc.’s investment portfolio, making the stock its 28th largest position. MFG Wealth Management Inc.’s holdings in Corning were worth $2,106,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of GLW. Vanguard Group Inc. increased its position in shares of Corning by 1.6% during the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after buying an additional 1,582,895 shares during the period. State Street Corp boosted its position in Corning by 1.4% during the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after acquiring an additional 509,013 shares during the last quarter. Geode Capital Management LLC boosted its position in Corning by 0.6% during the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after acquiring an additional 112,739 shares during the last quarter. Ameriprise Financial Inc. grew its holdings in Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after acquiring an additional 1,036,988 shares during the period. Finally, Norges Bank bought a new position in shares of Corning in the 2nd quarter worth about $534,936,000. 69.80% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on GLW. Argus upped their target price on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Susquehanna boosted their price target on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research note on Wednesday, October 29th. Oppenheimer set a $100.00 price target on Corning and gave the stock an “outperform” rating in a report on Wednesday, October 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research report on Monday. Finally, Mizuho set a $97.00 target price on shares of Corning in a research report on Wednesday, October 29th. 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. According to data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus price target of $93.09.

Corning Stock Up 1.8%

Shares of NYSE:GLW opened at $86.92 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.00 and a current ratio of 1.56. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $96.64. The business’s 50 day simple moving average is $85.85 and its two-hundred day simple moving average is $71.24. The firm has a market cap of $74.52 billion, a P/E ratio of 55.01, a PEG ratio of 1.87 and a beta of 1.11.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the firm earned $0.54 earnings per share. Corning’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, research analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 14th were issued a dividend of $0.28 per share. The ex-dividend date was Friday, November 14th. This represents a $1.12 annualized dividend and a yield of 1.3%. Corning’s dividend payout ratio is presently 70.89%.

Insider Buying and Selling at Corning

In other Corning news, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 66,959 shares in the company, valued at approximately $6,110,008.75. The trade was a 23.78% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the sale, the insider directly owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This represents a 69.00% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 156,135 shares of company stock valued at $14,088,769 over the last ninety days. 0.40% of the stock is currently owned by corporate insiders.

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.