Janney Montgomery Scott LLC Buys 25,484 Shares of Corning Incorporated $GLW

Janney Montgomery Scott LLC boosted its holdings in shares of Corning Incorporated (NYSE:GLW) by 5.7% in the second quarter, Holdings Channel.com reports. The fund owned 473,408 shares of the electronics maker’s stock after buying an additional 25,484 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Corning were worth $24,897,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of GLW. Investment Management Corp VA ADV grew its holdings in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC grew its holdings in Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 353 shares during the period. Banque Transatlantique SA acquired a new stake in Corning during the 1st quarter worth $34,000. Resources Management Corp CT ADV grew its holdings in Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 300 shares during the period. Finally, Gen Wealth Partners Inc grew its holdings in Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 455 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity at Corning

In other news, SVP Michael Paul O’day sold 14,879 shares of the stock in a transaction dated 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 transaction, the senior vice president directly owned 35,743 shares in the company, valued at $2,228,933.48. This represents a 29.39% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of the 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 transaction, the executive vice president owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,671 shares of company stock worth $11,816,899. Corporate insiders own 0.40% of the company’s stock.

Corning Price Performance

Shares of NYSE GLW opened at $83.10 on Thursday. The firm has a market cap of $71.18 billion, a PE ratio of 88.40, a PEG ratio of 1.83 and a beta of 1.14. 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 1-year low of $37.31 and a 1-year high of $83.75. The company has a fifty day moving average price of $69.64 and a 200 day moving average price of $55.42.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates 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 business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Mizuho boosted their price target on shares of Corning from $63.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Argus reissued a “buy” rating and issued a $68.00 price target on shares of Corning in a report on Wednesday, July 30th. Oppenheimer reissued an “outperform” rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. Wolfe Research assumed coverage on shares of Corning in a report on Tuesday, July 8th. They issued an “outperform” rating for the company. Finally, Barclays boosted their price target on shares of Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.08.

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.