Laurel Wealth Advisors LLC Has $2.15 Million Stock Holdings in Corning Incorporated $GLW

Laurel Wealth Advisors LLC grew its stake in Corning Incorporated (NYSE:GLW) by 5,159.0% in the 2nd quarter, Holdings Channel.com reports. The fund owned 40,810 shares of the electronics maker’s stock after purchasing an additional 40,034 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Corning were worth $2,146,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of GLW. REAP Financial Group LLC grew its stake in Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 339 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after buying an additional 353 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of Corning in the first quarter valued at $34,000. Resources Management Corp CT ADV increased its holdings in Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after buying an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc raised its position in Corning by 151.7% during the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 455 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity

In related news, SVP Stefan Becker sold 12,100 shares of the firm’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the transaction, the senior vice president directly owned 5,049 shares of the company’s stock, valued at approximately $460,872.72. This trade represents a 70.56% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the sale, the executive vice president owned 17,575 shares of the company’s stock, valued at $1,565,053.75. This trade represents a 56.84% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 173,856 shares of company stock worth $15,456,476. Corporate insiders own 0.40% of the company’s stock.

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. UBS Group reaffirmed a “buy” rating and issued a $109.00 target price (up from $100.00) on shares of Corning in a report on Friday, November 21st. Citigroup lifted their price target on Corning from $93.00 to $99.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Oppenheimer set a $100.00 price target on Corning and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. Finally, Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average price target of $91.64.

Corning Stock Up 0.9%

Shares of GLW opened at $83.68 on Friday. The firm has a market cap of $71.75 billion, a P/E ratio of 52.96, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56. 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 $84.32 and its 200 day simple moving average is $67.18.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) 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 during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the company posted $0.54 earnings per share. The business’s revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is currently 70.89%.

Corning Company 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.