Mitchell Mcleod Pugh & Williams Inc. Cuts Stock Position in Corning Incorporated $GLW

Mitchell Mcleod Pugh & Williams Inc. lessened its position in shares of Corning Incorporated (NYSE:GLW) by 13.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 22,098 shares of the electronics maker’s stock after selling 3,500 shares during the quarter. Mitchell Mcleod Pugh & Williams Inc.’s holdings in Corning were worth $3,005,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Merit Financial Group LLC lifted its holdings in shares of Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 6,493 shares during the last quarter. Security National Bank grew its stake in Corning by 340.4% during the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after buying an additional 56,056 shares during the last quarter. Natixis Advisors LLC increased its position in Corning by 32.1% during the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after buying an additional 116,583 shares in the last quarter. Three Seasons Wealth LLC acquired a new position in Corning during the 4th quarter valued at about $1,750,000. Finally, RiverFront Investment Group LLC raised its stake in Corning by 65.4% in the fourth quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker’s stock valued at $1,289,000 after buying an additional 5,818 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

GLW has been the subject of several recent analyst reports. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Barclays increased their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. UBS Group lifted their target price on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Citigroup boosted their target price on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Finally, Susquehanna upped their price target on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.62.

Insider Activity at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 in the last ninety days. 0.25% of the stock is owned by company insiders.

Corning Stock Down 0.2%

Corning stock opened at $255.29 on Wednesday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The business’s 50-day simple moving average is $188.32 and its two-hundred day simple moving average is $144.39. The company has a market cap of $219.71 billion, a PE ratio of 122.15, a PEG ratio of 3.66 and a beta of 1.15. Corning Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts anticipate that Corning Incorporated will post 3.19 EPS for the current 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 issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.4%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is 53.59%.

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.