Corning Incorporated $GLW Stock: Thurston Springer Miller Herd & Titak Inc. Cuts Position

Thurston Springer Miller Herd & Titak Inc. reduced its position in Corning Incorporated (NYSE:GLW) by 71.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,419 shares of the electronics maker’s stock after selling 3,610 shares during the period. Thurston Springer Miller Herd & Titak Inc.’s holdings in Corning were worth $218,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Atwood & Palmer Inc. purchased a new position in Corning in the second quarter valued at approximately $26,000. Rogco LP purchased a new stake in Corning during the second quarter worth approximately $27,000. Toth Financial Advisory Corp grew its stake in Corning by 130.7% during the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock worth $27,000 after buying an additional 98 shares during the period. Quintet Private Bank Europe S.A. grew its stake in Corning by 220.0% during the third quarter. Quintet Private Bank Europe S.A. now owns 240 shares of the electronics maker’s stock worth $37,000 after buying an additional 165 shares during the period. Finally, MBM Wealth Consultants LLC acquired a new stake in shares of Corning in the first quarter worth $42,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have recently commented on GLW shares. Mizuho cut their target price on shares of Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a research note on Tuesday, September 15th. UBS Group increased their price target on Corning from $196.00 to $201.00 and gave the company a “buy” rating in a report on Monday, October 5th. The Goldman Sachs Group reiterated an “outperform” rating on shares of Corning in a report on Tuesday, September 15th. Citigroup cut their price objective on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. Finally, Morgan Stanley reduced their price objective on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Thirteen research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average price target of $177.56.

Insider Transactions at Corning

In other Corning news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president directly owned 15,052 shares in the company, valued at $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.25% of the stock is owned by corporate insiders.

Corning Stock Down 5.2%

NYSE GLW traded down $7.67 during mid-day trading on Wednesday, reaching $140.87. 4,664,296 shares of the company’s stock traded hands, compared to its average volume of 11,961,807. Corning Incorporated has a 1-year low of $77.39 and a 1-year high of $271.78. The company has a fifty day simple moving average of $155.55 and a 200-day simple moving average of $168.87. 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 company has a market cap of $121.34 billion, a price-to-earnings ratio of 64.48, a P/E/G ratio of 1.88 and a beta of 1.13.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the previous year, the business earned $0.60 EPS. Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities research analysts expect that Corning Incorporated will post 3.28 EPS for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 13th. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s dividend payout ratio is currently 51.14%.

Corning Company Profile

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.