OLD Second National Bank of Aurora Buys 43,970 Shares of Corning Incorporated $GLW

OLD Second National Bank of Aurora increased its stake in shares of Corning Incorporated (NYSE:GLW) by 119.8% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 80,687 shares of the electronics maker’s stock after buying an additional 43,970 shares during the period. Corning accounts for about 0.9% of OLD Second National Bank of Aurora’s portfolio, making the stock its 28th largest holding. OLD Second National Bank of Aurora’s holdings in Corning were worth $4,243,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of GLW. Amundi boosted its holdings in shares of Corning by 64.3% during the 1st quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after buying an additional 2,507,797 shares during the period. Nuveen LLC bought a new stake in Corning in the 1st quarter valued at about $104,789,000. Kingstone Capital Partners Texas LLC bought a new stake in shares of Corning in the second quarter valued at approximately $92,560,000. Assenagon Asset Management S.A. boosted its stake in shares of Corning by 101.0% in the first quarter. Assenagon Asset Management S.A. now owns 2,951,938 shares of the electronics maker’s stock valued at $135,140,000 after buying an additional 1,483,151 shares during the period. Finally, Robeco Institutional Asset Management B.V. grew its position in Corning by 185.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock worth $94,736,000 after buying an additional 1,170,992 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Trading Down 0.7%

Shares of NYSE GLW opened at $82.56 on Friday. 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 52-week low of $37.31 and a 52-week high of $84.35. The firm has a 50 day moving average price of $70.18 and a two-hundred day moving average price of $55.66. The stock has a market cap of $70.72 billion, a P/E ratio of 87.83, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14.

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

Insider Transactions at Corning

In other Corning news, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the chief operating officer directly owned 64,838 shares in the company, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. This trade represents a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on GLW shares. Barclays upped their target price on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Argus restated a “buy” rating and issued a $68.00 price target on shares of Corning in a research report on Wednesday, July 30th. Citigroup increased their price target on shares of Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Susquehanna reaffirmed a “positive” rating and issued a $75.00 target price (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus 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.