Corning Incorporated $GLW Shares Sold by Mitchell Mcleod Pugh & Williams Inc.

Mitchell Mcleod Pugh & Williams Inc. decreased its holdings in Corning Incorporated (NYSE:GLW) by 2.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,920 shares of the electronics maker’s stock after selling 570 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Corning were worth $1,416,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of the business. J.Safra Asset Management Corp raised its holdings in Corning by 8.1% in the 2nd quarter. J.Safra Asset Management Corp now owns 5,732 shares of the electronics maker’s stock worth $297,000 after purchasing an additional 430 shares during the period. Sagespring Wealth Partners LLC raised its holdings in Corning by 33.7% in the 2nd quarter. Sagespring Wealth Partners LLC now owns 15,202 shares of the electronics maker’s stock worth $799,000 after purchasing an additional 3,835 shares during the period. RFG Advisory LLC raised its holdings in Corning by 2.6% in the 2nd quarter. RFG Advisory LLC now owns 8,853 shares of the electronics maker’s stock worth $466,000 after purchasing an additional 224 shares during the period. Perfromance Wealth Partners LLC raised its holdings in Corning by 13.5% in the 2nd quarter. Perfromance Wealth Partners LLC now owns 19,058 shares of the electronics maker’s stock worth $1,002,000 after purchasing an additional 2,261 shares during the period. Finally, Community Bank N.A. raised its holdings in Corning by 0.6% in the 2nd quarter. Community Bank N.A. now owns 92,144 shares of the electronics maker’s stock worth $4,846,000 after purchasing an additional 526 shares during the period. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

NYSE GLW opened at $84.69 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The stock’s fifty day moving average is $74.06 and its two-hundred day moving average is $57.79. The firm has a market capitalization of $72.55 billion, a P/E ratio of 90.10, a price-to-earnings-growth ratio of 1.91 and a beta of 1.14. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The business had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.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, research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s payout ratio is presently 119.15%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on GLW shares. Morgan Stanley upped their price target on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday. Susquehanna reiterated a “positive” rating and set a $75.00 price objective (up from $60.00) on shares of Corning in a research note on Wednesday, July 30th. UBS Group boosted their price objective on Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. 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. Finally, Citigroup boosted their price objective on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. 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, the company currently has an average rating of “Moderate Buy” and an average price target of $73.00.

Insider Buying and Selling at Corning

In other Corning news, 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 transaction of $2,256,302.40. Following the completion of the sale, the chief operating officer owned 64,838 shares of the company’s stock, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of the firm’s stock in a transaction on 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 sale, the executive vice president directly owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. This trade represents a 29.51% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 181,671 shares of company stock worth $11,816,899. Insiders own 0.32% of the company’s stock.

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.