Corning Incorporated $GLW Shares Sold by Beacon Investment Advisory Services Inc.

Beacon Investment Advisory Services Inc. cut its position in Corning Incorporated (NYSE:GLW) by 1.7% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 15,945 shares of the electronics maker’s stock after selling 270 shares during the quarter. Beacon Investment Advisory Services Inc.’s holdings in Corning were worth $839,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the company. Davis Investment Partners LLC purchased a new stake in Corning during the 2nd quarter valued at approximately $251,000. Central Pacific Bank Trust Division raised its stake in Corning by 23.6% during the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock valued at $3,838,000 after acquiring an additional 13,920 shares during the last quarter. Strs Ohio purchased a new stake in Corning during the 1st quarter valued at approximately $27,219,000. Acadian Asset Management LLC raised its stake in Corning by 4,346.5% during the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after acquiring an additional 150,521 shares during the last quarter. Finally, Intech Investment Management LLC raised its stake in Corning by 507.6% during the 1st quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock valued at $9,665,000 after acquiring an additional 176,379 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Corning Price Performance

Shares of NYSE:GLW opened at $79.11 on Friday. The business’s fifty day moving average price is $67.50 and its two-hundred day moving average price is $54.44. The stock has a market cap of $67.76 billion, a PE ratio of 84.15, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. Corning Incorporated has a one year low of $37.31 and a one year high of $81.58.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same quarter in the prior year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have commented on the company. Argus reaffirmed a “buy” rating and set a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. JPMorgan Chase & Co. increased their target price on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Mizuho increased their target price on Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. UBS Group increased their target price on Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday. Finally, Wolfe Research assumed coverage on Corning in a research note on Tuesday, July 8th. They set an “outperform” rating for the company. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $70.08.

Insider Buying and Selling at Corning

In other news, SVP Jaymin Amin sold 17,721 shares of the firm’s stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares in the company, valued at $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michael Paul O’day sold 14,879 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total value of $927,854.44. Following the sale, the senior vice president owned 35,743 shares in the company, valued at $2,228,933.48. This trade represents a 29.39% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is currently owned by insiders.

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.