17,644 Shares in Corning Incorporated $GLW Purchased by Glenview Trust Co

Glenview Trust Co acquired a new stake in Corning Incorporated (NYSE:GLW) in the second quarter, HoldingsChannel.com reports. The fund acquired 17,644 shares of the electronics maker’s stock, valued at approximately $2,399,000.

Other institutional investors have also bought and sold shares of the company. Security National Bank increased its position in shares of Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after acquiring an additional 56,056 shares during the last quarter. Herbst Group LLC purchased a new position in Corning in the second quarter valued at about $4,474,000. Principal Financial Group Inc. boosted its holdings in Corning by 1.2% in the first quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after purchasing an additional 10,591 shares during the last quarter. Wealthfront Advisers LLC grew its stake in Corning by 36.2% during the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock valued at $12,567,000 after purchasing an additional 24,589 shares in the last quarter. Finally, Atlas Wealth LLC boosted its stake in shares of Corning by 137.8% during the 1st quarter. Atlas Wealth LLC now owns 12,076 shares of the electronics maker’s stock valued at $1,642,000 after buying an additional 6,998 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 0.25% of the stock is owned by corporate insiders.

Corning Trading Down 2.6%

NYSE GLW opened at $148.87 on Friday. The firm’s 50 day moving average price is $171.18 and its two-hundred day moving average price is $164.60. The stock has a market cap of $128.24 billion, a price-to-earnings ratio of 67.98, a PEG ratio of 1.96 and a beta of 1.14. Corning Incorporated has a twelve month low of $66.14 and a twelve month high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts anticipate that Corning Incorporated will post 3.27 EPS for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s payout ratio is 51.14%.

Wall Street Analyst Weigh In

A number of research analysts have commented on the company. Truist Financial raised Corning from a “hold” rating to a “buy” rating and reduced their target price for the stock from $205.00 to $175.00 in a report on Sunday, August 2nd. Oppenheimer dropped their price target on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Morgan Stanley dropped their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Finally, UBS Group reissued a “buy” rating and issued a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

About Corning

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.