Massachusetts Wealth Management Acquires 250 Shares of Corning Incorporated $GLW

Massachusetts Wealth Management lifted its holdings in shares of Corning Incorporated (NYSE:GLW) by 1.1% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 22,950 shares of the electronics maker’s stock after purchasing an additional 250 shares during the quarter. Massachusetts Wealth Management’s holdings in Corning were worth $1,207,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. REAP Financial Group LLC boosted its stake in shares of Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares during the period. Investment Management Corp VA ADV boosted its stake in Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its stake in Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 353 shares during the period. Resources Management Corp CT ADV boosted its stake in Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 300 shares during the period. Finally, Gen Wealth Partners Inc boosted its stake in Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock valued at $35,000 after purchasing an additional 455 shares during the period. 69.80% of the stock is currently owned by institutional investors.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction on Thursday, August 7th. The stock was 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. The trade was a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction dated 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 completion of the transaction, the chief operating officer directly owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. The trade was a 35.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock worth $11,816,899 in the last three months. Insiders own 0.40% of the company’s stock.

Corning Price Performance

Corning stock opened at $87.04 on Thursday. 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 $87.07. The stock has a market capitalization of $74.56 billion, a P/E ratio of 92.60, a price-to-earnings-growth ratio of 1.90 and a beta of 1.14. The stock has a fifty day moving average of $72.29 and a 200-day moving average of $56.68.

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

Analyst Ratings Changes

Several analysts recently issued reports on the company. Oppenheimer restated an “outperform” rating and issued a $72.00 price target (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. UBS Group boosted their price target on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday, September 23rd. Morgan Stanley set a $56.00 price target on Corning and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Barclays lifted their price objective on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a report on Wednesday, July 30th. Finally, Citigroup lifted their price objective on Corning from $72.00 to $93.00 and gave the company a “buy” rating in a report on Wednesday, September 24th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $71.42.

About Corning

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.