M Holdings Securities Inc. Acquires New Position in Corning Incorporated $GLW

M Holdings Securities Inc. acquired a new position in shares of Corning Incorporated (NYSE:GLW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 4,940 shares of the electronics maker’s stock, valued at approximately $760,000.

A number of other institutional investors and hedge funds have also modified their holdings of the company. State Street Corp boosted its stake in Corning by 13.4% during the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after buying an additional 4,845,027 shares in the last quarter. Bank of America Corp DE raised its stake in shares of Corning by 29.2% in the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after buying an additional 4,231,507 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Corning by 50.9% during the 2nd quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after acquiring an additional 4,446,514 shares during the period. Bank of New York Mellon Corp bought a new position in shares of Corning during the 2nd quarter worth about $1,510,911,000. Finally, Legal & General Group Plc acquired a new stake in shares of Corning during the 2nd quarter valued at about $1,212,283,000. 69.80% of the stock is currently owned by institutional investors.

Insider Transactions at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares of the company’s stock, valued at $2,277,217.08. This trade represents a 46.53% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s shares gained 32.5% over the past year, outperforming both its industry and the S&P 500, with AI infrastructure demand, optical communications growth, and solar expansion cited as drivers. GLW Stock Rises 32.5% in a Year: Is There Still Room to Grow?
• Positive Sentiment: Forty ETFs bought Corning shares on Nov. 5, while 16 sold, resulting in a reported net $47.6 million inflow. ETFs Bought $47.6 Million of Corning
• Neutral Sentiment: A technical analysis article describes GLW as oversold, suggesting the possibility of a bounce, but says the stock’s broader trend remains weak. Corning Stock Price Prediction
• Negative Sentiment: Coverage says the AI “picks-and-shovels” trade is retreating, a shift that can weigh on Corning given investor interest in its AI-related infrastructure exposure. The AI Picks-and-Shovels Trade Caves In
• Negative Sentiment: Sanford C. Bernstein cut its GLW price target to $120 from $140 and maintained a “market perform” rating, signaling more cautious expectations. Corning Price Targets

Corning Stock Performance

Corning stock opened at $112.21 on Wednesday. The firm has a market capitalization of $96.66 billion, a P/E ratio of 45.43, a P/E/G ratio of 1.43 and a beta of 1.23. The stock has a fifty day moving average price of $143.08 and a two-hundred day moving average price of $155.76. Corning Incorporated has a 52-week low of $77.39 and a 52-week high of $271.78. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.72 and a quick ratio of 1.17.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, October 27th. The electronics maker reported $0.91 EPS for the quarter, beating the consensus estimate of $0.88 by $0.03. Corning had a net margin of 12.13% and a return on equity of 20.83%. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $5.03 billion. During the same quarter in the previous year, the company earned $0.67 EPS. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. As a group, analysts anticipate that Corning Incorporated will post 3.38 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 1.0%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s dividend payout ratio (DPR) is currently 45.34%.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. The Goldman Sachs Group reissued an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. Barclays raised their price target on shares of Corning from $129.00 to $132.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 28th. Sanford C. Bernstein cut their price target on shares of Corning from $140.00 to $120.00 and set a “market perform” rating for the company in a research note on Monday. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Saturday, October 10th. Finally, Truist Financial reiterated a “buy” rating and issued a $175.00 price objective (down from $182.00) on shares of Corning in a research note on Wednesday, October 28th. One investment analyst has rated the stock with a Strong Buy rating, fourteen have given a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $174.56.

Corning Profile

Corning Incorporated is a materials science and technology company with roots dating to 1851, when it was established as Corning Glass Works. The company develops and manufactures specialty glass, ceramics and optical materials for customers in a range of industries. Its products include optical fiber, cable and connectivity solutions for communications networks; glass substrates used in display technologies; and specialty glass such as Gorilla Glass for consumer electronics. Corning also makes ceramic substrates and filters for emissions-control systems, as well as glassware and other products for life sciences and laboratory use.