CHURCHILL MANAGEMENT Corp Sells 788 Shares of Corning Incorporated $GLW

CHURCHILL MANAGEMENT Corp trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 42,532 shares of the electronics maker’s stock after selling 788 shares during the quarter. CHURCHILL MANAGEMENT Corp’s holdings in Corning were worth $2,237,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC boosted its position in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the period. GAMMA Investing LLC grew its stake in Corning by 5,814.8% in the 1st quarter. GAMMA Investing LLC now owns 519,969 shares of the electronics maker’s stock valued at $23,804,000 after buying an additional 511,178 shares in the last quarter. Fifth Third Wealth Advisors LLC bought a new stake in Corning during the 1st quarter valued at $230,000. NBC Securities Inc. lifted its holdings in Corning by 100,100.0% during the 1st quarter. NBC Securities Inc. now owns 10,020 shares of the electronics maker’s stock worth $458,000 after purchasing an additional 10,010 shares in the last quarter. Finally, Merit Financial Group LLC lifted its holdings in shares of Corning by 112.4% in the first quarter. Merit Financial Group LLC now owns 23,169 shares of the electronics maker’s stock worth $1,061,000 after buying an additional 12,259 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling

In other Corning news, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The stock was 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 owned 64,838 shares of the company’s stock, valued at $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the transaction, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 181,671 shares of company stock worth $11,816,899 over the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on GLW shares. Citigroup boosted their price objective on shares of Corning from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. Argus restated a “buy” rating and set a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. Susquehanna reiterated a “positive” rating and issued a $75.00 price objective (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. JPMorgan Chase & Co. lifted their price objective on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Finally, Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. One research 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 stock. Based on data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $70.08.

Corning Stock Performance

NYSE GLW opened at $83.10 on Thursday. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $83.75. The company has a fifty day moving average of $69.64 and a 200-day moving average of $55.42. The company has a market capitalization of $71.18 billion, a P/E ratio of 88.40, a P/E/G ratio of 1.83 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 (NYSE:GLW) last released its quarterly 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. Corning had a return on equity of 17.27% and a net margin of 5.77%.The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter last year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities research analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

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.