Patron Partners LLC Acquires 472 Shares of Corning Incorporated $GLW

Patron Partners LLC grew its holdings in Corning Incorporated (NYSE:GLW) by 2.9% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,803 shares of the electronics maker’s stock after purchasing an additional 472 shares during the period. Patron Partners LLC’s holdings in Corning were worth $884,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of GLW. Investment Management Corp VA ADV increased its holdings in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC boosted its stake 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 worth $34,000 after buying an additional 353 shares during the last quarter. Banque Transatlantique SA purchased a new position in shares of Corning in the 1st quarter worth $34,000. Resources Management Corp CT ADV boosted its stake in shares of Corning by 66.7% in the 1st 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 boosted its stake in shares of Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after buying an additional 455 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Lewis A. Steverson sold 16,646 shares of the business’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the transaction, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. The trade was a 29.51% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the transaction, the senior vice president owned 88,722 shares in the company, valued at $6,847,563.96. The trade was a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,671 shares of company stock valued at $11,816,899. Insiders own 0.40% of the company’s stock.

Corning Price Performance

Shares of Corning stock opened at $79.11 on Friday. The stock’s 50-day simple moving average is $67.50 and its 200-day simple moving average is $54.44. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $81.58. The company has a market capitalization of $67.76 billion, a price-to-earnings ratio of 84.15, a PEG ratio of 1.78 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.50 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 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same period in the previous year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Morgan Stanley set a $56.00 price target on Corning and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Barclays raised their price target on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. JPMorgan Chase & Co. raised their price target on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Argus reiterated a “buy” rating and set a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. Finally, Oppenheimer reiterated an “outperform” rating and set a $72.00 target price (up from $55.00) 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 issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average price target of $70.08.

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.