Benedict Financial Advisors Inc. Sells 3,366 Shares of Corning Incorporated $GLW

Benedict Financial Advisors Inc. lowered its position in shares of Corning Incorporated (NYSE:GLW) by 4.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 72,137 shares of the electronics maker’s stock after selling 3,366 shares during the period. Corning makes up approximately 2.1% of Benedict Financial Advisors Inc.’s portfolio, making the stock its 11th largest position. Benedict Financial Advisors Inc.’s holdings in Corning were worth $11,092,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the business. Herbst Group LLC purchased a new stake in Corning in the 2nd quarter valued at about $4,474,000. Principal Financial Group Inc. boosted its stake in Corning by 1.2% during the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock worth $121,483,000 after buying an additional 10,591 shares during the period. Wealthfront Advisers LLC increased its position in shares of Corning by 36.2% during the first quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after acquiring an additional 24,589 shares during the last quarter. Silverlake Wealth Management LLC acquired a new stake in shares of Corning during the second quarter valued at about $1,872,000. Finally, Atlas Wealth LLC lifted its holdings in shares of Corning by 137.8% in the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock worth $1,642,000 after acquiring an additional 6,998 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the sale, the executive vice president owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 0.25% of the company’s stock.

Corning Stock Down 2.3%

NYSE:GLW traded down $3.83 during midday trading on Wednesday, reaching $165.14. The company had a trading volume of 2,762,501 shares, compared to its average volume of 12,074,906. Corning Incorporated has a 12-month low of $77.39 and a 12-month high of $271.78. The firm has a market capitalization of $142.25 billion, a price-to-earnings ratio of 75.37, a PEG ratio of 2.03 and a beta of 1.13. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $154.28 and its 200-day simple moving average is $168.23.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The firm’s quarterly revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, sell-side analysts anticipate that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GLW. Bank of America increased their price objective on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research report on Monday, July 6th. The Goldman Sachs Group restated an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. Morgan Stanley lowered their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. China Renaissance raised Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective for the company in a research note on Tuesday, September 8th. Finally, Sanford C. Bernstein assumed coverage on Corning in a report on Wednesday, September 30th. They issued a “market perform” rating and a $140.00 price objective on the stock. Twelve analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average target price of $174.87.

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.