Stock Yards Bank & Trust Co. Invests $203,000 in Corning Incorporated $GLW

Stock Yards Bank & Trust Co. purchased a new stake in Corning Incorporated (NYSE:GLW) during the second quarter, Holdings Channel.com reports. The institutional investor purchased 3,863 shares of the electronics maker’s stock, valued at approximately $203,000.

Several other large investors also recently bought and sold shares of GLW. Amundi boosted its stake in shares of Corning by 64.3% in the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock worth $271,237,000 after acquiring an additional 2,507,797 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Corning by 1.3% in the 1st quarter. Bank of New York Mellon Corp now owns 6,347,977 shares of the electronics maker’s stock valued at $290,610,000 after purchasing an additional 80,872 shares in the last quarter. Invesco Ltd. grew its holdings in shares of Corning by 4.8% during the first quarter. Invesco Ltd. now owns 6,337,063 shares of the electronics maker’s stock worth $290,111,000 after buying an additional 288,328 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of Corning by 10.6% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 5,844,174 shares of the electronics maker’s stock valued at $267,546,000 after buying an additional 558,184 shares during the last quarter. Finally, Deutsche Bank AG lifted its stake in shares of Corning by 37.1% in the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock worth $175,603,000 after buying an additional 1,037,875 shares in the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total value of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares of the company’s stock, valued at $6,847,563.96. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Avery H. Nelson III sold 36,240 shares of the firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the transaction, the chief operating officer owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 181,671 shares of company stock worth $11,816,899. Insiders own 0.32% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on GLW. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Barclays increased their price target on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. JPMorgan Chase & Co. boosted their price objective on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Susquehanna reaffirmed a “positive” rating and issued a $75.00 target price (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, UBS Group lifted their price target on Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a report on Tuesday, September 23rd. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $71.42.

Corning Price Performance

NYSE:GLW opened at $83.60 on Monday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $84.35. The stock’s fifty day moving average is $70.74 and its two-hundred day moving average is $56.02. The company has a market capitalization of $71.62 billion, a P/E ratio of 88.94, a P/E/G ratio of 1.86 and a beta of 1.14. 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 issued its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) 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 the consensus estimate of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period last year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

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.