Mitchell Mcleod Pugh & Williams Inc. Cuts Position in Corning Incorporated $GLW

Mitchell Mcleod Pugh & Williams Inc. trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 2.1% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 26,920 shares of the electronics maker’s stock after selling 570 shares during the period. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Corning were worth $1,416,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in GLW. Brighton Jones LLC lifted its stake 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 in the last quarter. GAMMA Investing LLC lifted its stake in Corning by 29.2% during the first quarter. GAMMA Investing LLC now owns 11,358 shares of the electronics maker’s stock worth $520,000 after purchasing an additional 2,567 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Corning by 1.9% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 1,300,954 shares of the electronics maker’s stock worth $59,558,000 after purchasing an additional 23,781 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its stake in Corning by 1.3% during the first quarter. Dynamic Advisor Solutions LLC now owns 22,379 shares of the electronics maker’s stock worth $1,024,000 after purchasing an additional 297 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its stake in Corning by 7.3% during the first quarter. Janney Montgomery Scott LLC now owns 447,924 shares of the electronics maker’s stock worth $20,506,000 after purchasing an additional 30,293 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Down 0.9%

Corning stock opened at $84.69 on Wednesday. The firm has a market capitalization of $72.55 billion, a P/E ratio of 90.10, a P/E/G ratio of 1.91 and a beta of 1.14. The stock’s fifty day simple moving average is $74.06 and its 200-day simple moving average is $57.79. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $87.78.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to the consensus estimate of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period in the previous year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is currently 119.15%.

Insider Buying and Selling at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction dated 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 completion of the transaction, the executive vice president directly owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the transaction, the senior vice president directly owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,671 shares of company stock worth $11,816,899. Corporate insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have commented on GLW shares. UBS Group upped their price target on Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research note on Wednesday, October 8th. JPMorgan Chase & Co. upped their price objective on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. Morgan Stanley upped their price objective on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday. Finally, Argus reaffirmed a “buy” rating and set a $68.00 price objective on shares of Corning in a research report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $73.00.

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.