Monte Financial Group LLC Lowers Holdings in Corning Incorporated $GLW

Monte Financial Group LLC lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 36.8% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 78,626 shares of the electronics maker’s stock after selling 45,814 shares during the period. Corning comprises approximately 2.4% of Monte Financial Group LLC’s portfolio, making the stock its 12th biggest holding. Monte Financial Group LLC’s holdings in Corning were worth $6,450,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the stock. Sage Rhino Capital LLC purchased a new position in shares of Corning in the third quarter worth $233,000. Values Added Financial LLC bought a new stake in Corning in the 3rd quarter valued at $252,000. Patron Partners LLC lifted its stake in Corning by 4.5% in the 3rd quarter. Patron Partners LLC now owns 17,554 shares of the electronics maker’s stock worth $1,440,000 after purchasing an additional 751 shares in the last quarter. Lorne Steinberg Wealth Management Inc. bought a new position in shares of Corning during the 3rd quarter valued at about $205,000. Finally, Commerzbank Aktiengesellschaft FI bought a new position in shares of Corning during the 3rd quarter valued at about $311,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Susquehanna raised their target price on shares of Corning from $75.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Morgan Stanley boosted their price target on shares of Corning from $82.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. Mizuho set a $97.00 price objective on shares of Corning in a research note on Wednesday, October 29th. Finally, Argus increased their price target on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.36.

Insider Transactions at Corning

In other news, CFO Edward A. Schlesinger sold 20,893 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the transaction, the chief financial officer owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Eric S. Musser sold 100,000 shares of Corning stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total value of $9,017,000.00. Following the completion of the sale, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. The trade was a 69.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 156,135 shares of company stock valued at $14,088,769 over the last 90 days. 0.32% of the stock is owned by corporate insiders.

Corning Stock Down 1.0%

Shares of GLW opened at $93.37 on Monday. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $80.05 billion, a P/E ratio of 59.09, a P/E/G ratio of 1.64 and a beta of 1.13. The firm has a fifty day moving average price of $87.63 and a 200-day moving average price of $78.58. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $96.64.

Corning (NYSE:GLW) last posted 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 firm had revenue of $4.10 billion during the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Equities research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

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.