Corning Incorporated $GLW Shares Newly Acquired by Lake Hills Wealth Management LLC

Lake Hills Wealth Management LLC bought a new position in shares of Corning Incorporated (NYSE:GLW) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 3,143 shares of the electronics maker’s stock, valued at approximately $483,000.

Several other large investors have also made changes to their positions in the company. State Street Corp grew its position in Corning by 13.4% during the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after acquiring an additional 4,845,027 shares during the last quarter. Bank of America Corp DE boosted its stake in Corning by 29.2% in the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock worth $4,784,361,000 after purchasing an additional 4,231,507 shares in the last quarter. Wellington Management Group LLP boosted its stake in Corning by 50.9% in the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after purchasing an additional 4,446,514 shares in the last quarter. Bank of New York Mellon Corp bought a new stake in shares of Corning during the second quarter worth $1,510,911,000. Finally, Legal & General Group Plc acquired a new stake in shares of Corning in the second quarter valued at $1,212,283,000. Institutional investors own 69.80% of the company’s stock.

Corning Trading Down 2.0%

NYSE GLW traded down $3.44 during trading hours on Wednesday, hitting $165.53. The company’s stock had a trading volume of 2,946,075 shares, compared to its average volume of 12,075,394. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78. The firm has a market capitalization of $142.59 billion, a P/E ratio of 75.42, a PEG ratio of 2.03 and a beta of 1.13. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average of $154.28 and a 200 day moving average of $168.23.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities research analysts forecast that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts have weighed in on the stock. Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Citigroup dropped their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Mizuho reduced their price objective on Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, September 15th. Bank of America lifted their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Finally, UBS Group boosted their target price on Corning from $196.00 to $201.00 and gave the stock a “buy” rating in a research report on Monday. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $174.87.

Insider Activity at Corning

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

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.