OLD Second National Bank of Aurora Sells 3,235 Shares of Corning Incorporated $GLW

OLD Second National Bank of Aurora lessened its holdings in shares of Corning Incorporated (NYSE:GLW) by 4.0% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 78,589 shares of the electronics maker’s stock after selling 3,235 shares during the period. Corning comprises approximately 2.2% of OLD Second National Bank of Aurora’s holdings, making the stock its 12th largest holding. OLD Second National Bank of Aurora’s holdings in Corning were worth $10,686,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after buying an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new position in shares of Corning during the first quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Corning by 9.3% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after acquiring an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Corning in the second quarter worth $401,000. Finally, Schnieders Capital Management LLC. purchased a new stake in Corning in the second quarter worth $266,000. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

GLW opened at $223.00 on Friday. The stock has a fifty day simple moving average of $184.70 and a two-hundred day simple moving average of $141.72. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company has a market cap of $191.92 billion, a price-to-earnings ratio of 106.70, a price-to-earnings-growth ratio of 3.26 and a beta of 1.15. Corning Incorporated has a 12-month low of $51.32 and a 12-month high of $230.50.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

Insiders Place Their Bets

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 160,655 shares of company stock valued at $30,692,560. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

GLW has been the topic of a number of research analyst reports. UBS Group boosted their price objective on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Truist Financial raised their target price on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research report on Monday. Citigroup lifted their target price on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $182.62.

Corning Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.