Intrust Bank NA Takes Position in Corning Incorporated $GLW

Intrust Bank NA purchased a new position in shares of Corning Incorporated (NYSE:GLW) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 3,549 shares of the electronics maker’s stock, valued at approximately $291,000.

A number of other large investors have also recently added to or reduced their stakes in the business. Hartline Investment Corp lifted its position in shares of Corning by 113.2% in the third quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker’s stock valued at $24,229,000 after acquiring an additional 156,843 shares in the last quarter. Vanguard Group Inc. raised its stake in Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after purchasing an additional 1,582,895 shares during the last quarter. Schroder Investment Management Group lifted its holdings in Corning by 638.0% in the 2nd quarter. Schroder Investment Management Group now owns 546,407 shares of the electronics maker’s stock valued at $28,736,000 after purchasing an additional 472,365 shares in the last quarter. Caprock Group LLC purchased a new position in Corning in the 3rd quarter valued at about $3,355,000. Finally, Motley Fool Asset Management LLC boosted its stake in shares of Corning by 10.5% during the 2nd quarter. Motley Fool Asset Management LLC now owns 44,037 shares of the electronics maker’s stock worth $2,316,000 after purchasing an additional 4,183 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the stock. UBS Group boosted their price objective on shares of Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday. Argus boosted their price target on Corning from $68.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 29th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a research report on Friday, January 23rd. Finally, Morgan Stanley upped their target price on Corning from $103.00 to $127.00 and gave the company an “equal weight” rating in a research note on Monday. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $121.25.

Insiders Place Their Bets

In other Corning news, insider Eric S. Musser sold 25,000 shares of the business’s stock in a transaction dated Monday, February 2nd. The stock was sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the transaction, the insider owned 19,926 shares in the company, valued at $2,191,860. The trade was a 55.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the completion of the sale, the executive vice president directly owned 3,461 shares of the company’s stock, valued at $450,691.42. The trade was a 81.62% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 95,687 shares of company stock worth $11,249,008. 0.32% of the stock is owned by company insiders.

Corning Stock Performance

Shares of NYSE:GLW opened at $145.08 on Tuesday. The business has a 50-day moving average of $102.97 and a two-hundred day moving average of $88.05. The firm has a market capitalization of $124.47 billion, a PE ratio of 78.85, a P/E/G ratio of 2.42 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $148.70.

Corning (NYSE:GLW) last issued its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The company’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio is presently 60.87%.

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.