Mitchell Sinkler & Starr PA Sells 1,590 Shares of Corning Incorporated $GLW

Mitchell Sinkler & Starr PA lowered its holdings in Corning Incorporated (NYSE:GLW) by 26.1% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 4,500 shares of the electronics maker’s stock after selling 1,590 shares during the quarter. Mitchell Sinkler & Starr PA’s holdings in Corning were worth $237,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Alta Advisers Ltd bought a new stake in shares of Corning in the 2nd quarter valued at about $218,000. CWM LLC raised its stake in shares of Corning by 117.4% during the 2nd quarter. CWM LLC now owns 65,235 shares of the electronics maker’s stock worth $3,431,000 after acquiring an additional 35,223 shares in the last quarter. OFI Invest Asset Management raised its stake in shares of Corning by 49.4% during the 2nd quarter. OFI Invest Asset Management now owns 2,251 shares of the electronics maker’s stock worth $118,000 after acquiring an additional 744 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its stake in shares of Corning by 32.0% during the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 132,743 shares of the electronics maker’s stock worth $6,982,000 after acquiring an additional 32,170 shares in the last quarter. Finally, Cerro Pacific Wealth Advisors LLC bought a new position in shares of Corning during the 2nd quarter worth approximately $693,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Down 4.8%

GLW stock opened at $83.00 on Friday. The firm’s fifty day simple moving average is $73.19 and its 200-day simple moving average is $57.25. The company has a market capitalization of $71.10 billion, a P/E ratio of 88.30, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.78.

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

Corning Announces Dividend

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 issued a $0.28 dividend. 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 119.15%.

Insiders Place Their Bets

In other news, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the sale, the chief operating officer directly owned 64,838 shares of the company’s stock, valued at $4,036,813.88. This represents a 35.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the sale, the senior vice president directly owned 35,743 shares in the company, valued at $2,228,933.48. This trade represents a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,671 shares of company stock worth $11,816,899. Company insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms recently commented on GLW. Wolfe Research began coverage on shares of Corning in a research note on Tuesday, July 8th. They set an “outperform” rating for the company. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research note on Wednesday. UBS Group boosted their price objective on shares of Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. Citigroup boosted their price objective on shares of Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Finally, Susquehanna reissued a “positive” rating and set a $75.00 target price (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Corning 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.