Corning Incorporated $GLW Shares Sold by Good Steward Wealth Advisors LLC

Good Steward Wealth Advisors LLC lowered its position in shares of Corning Incorporated (NYSE:GLW) by 32.1% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 4,392 shares of the electronics maker’s stock after selling 2,079 shares during the period. Good Steward Wealth Advisors LLC’s holdings in Corning were worth $231,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Bangor Savings Bank increased its position in shares of Corning by 1.8% during the second quarter. Bangor Savings Bank now owns 33,415 shares of the electronics maker’s stock worth $1,757,000 after purchasing an additional 599 shares in the last quarter. Thurston Springer Miller Herd & Titak Inc. increased its position in shares of Corning by 28.3% during the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 10,703 shares of the electronics maker’s stock worth $563,000 after purchasing an additional 2,364 shares in the last quarter. First Financial Bank Trust Division increased its position in shares of Corning by 1.7% during the second quarter. First Financial Bank Trust Division now owns 140,454 shares of the electronics maker’s stock worth $7,386,000 after purchasing an additional 2,306 shares in the last quarter. Central Pacific Bank Trust Division increased its position in shares of Corning by 23.6% during the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after purchasing an additional 13,920 shares in the last quarter. Finally, AG2R LA Mondiale Gestion D Actifs acquired a new stake in shares of Corning during the first quarter worth about $1,611,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GLW shares. Argus reiterated a “buy” rating and set a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price target on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Barclays boosted their price target on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Morgan Stanley set a $56.00 price target on Corning and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Finally, Mizuho boosted their price target on Corning from $63.00 to $74.00 and gave the company an “outperform” rating in a research report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $66.75.

Corning Price Performance

Shares of GLW opened at $77.03 on Friday. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $77.87. The stock’s 50 day moving average is $62.75 and its two-hundred day moving average is $52.49. The firm has a market capitalization of $65.99 billion, a PE ratio of 81.95, a P/E/G ratio of 1.69 and a beta of 1.09. 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 (NYSE:GLW) last announced its quarterly earnings data 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 company had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the previous year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Shareholders of record on Friday, August 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.5%. The ex-dividend date of this dividend is Friday, August 29th. Corning’s payout ratio is currently 119.15%.

Insider Buying and Selling

In other news, SVP Michael Paul O’day sold 14,879 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president owned 35,743 shares of the company’s stock, valued at $2,228,933.48. The trade was a 29.39% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the sale, the chief executive officer directly owned 809,295 shares in the company, valued at $52,757,941.05. This trade represents a 9.21% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,950 shares of company stock worth $10,449,192 in the last three months. Company insiders own 0.40% of the company’s stock.

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.