Laurel Wealth Advisors LLC Has $2.15 Million Stock Position in Corning Incorporated $GLW

Laurel Wealth Advisors LLC increased its position in shares of Corning Incorporated (NYSE:GLW) by 5,159.0% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 40,810 shares of the electronics maker’s stock after acquiring an additional 40,034 shares during the quarter. Laurel Wealth Advisors LLC’s holdings in Corning were worth $2,146,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC lifted its position in Corning by 3.8% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 96,818 shares of the electronics maker’s stock valued at $5,092,000 after purchasing an additional 3,556 shares during the period. Atalanta Sosnoff Capital LLC raised its stake in shares of Corning by 4.3% during the second quarter. Atalanta Sosnoff Capital LLC now owns 15,547 shares of the electronics maker’s stock worth $818,000 after buying an additional 646 shares during the last quarter. Insigneo Advisory Services LLC lifted its holdings in Corning by 16.1% in the second quarter. Insigneo Advisory Services LLC now owns 13,640 shares of the electronics maker’s stock valued at $717,000 after buying an additional 1,896 shares during the period. CreativeOne Wealth LLC boosted its stake in Corning by 8.6% in the second quarter. CreativeOne Wealth LLC now owns 12,326 shares of the electronics maker’s stock valued at $648,000 after acquiring an additional 973 shares during the last quarter. Finally, Global Retirement Partners LLC bought a new position in Corning in the second quarter valued at approximately $1,181,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Price Performance

NYSE GLW opened at $83.68 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56. The stock has a market cap of $71.75 billion, a price-to-earnings ratio of 52.96, a PEG ratio of 1.99 and a beta of 1.15. The business has a 50 day simple moving average of $84.32 and a 200 day simple moving average of $67.18. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $92.57.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The business’s quarterly revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio is 70.89%.

Insider Transactions at Corning

In other news, insider Eric S. Musser sold 100,000 shares of the business’s stock in a transaction dated Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the sale, the insider directly owned 44,926 shares in the company, valued at $4,050,977.42. The trade was a 69.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Edward A. Schlesinger sold 20,893 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $91.25, for a total value of $1,906,486.25. Following the transaction, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at $6,110,008.75. This represents a 23.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 173,856 shares of company stock worth $15,456,476. 0.40% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

GLW has been the subject of several recent research reports. Oppenheimer set a $100.00 target price on shares of Corning and gave the company an “outperform” rating in a research report on Wednesday, October 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a report on Tuesday. Citigroup upped their price target on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Finally, Barclays lifted their price objective on shares of Corning from $65.00 to $83.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and a consensus target price of $91.64.

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.