Lake Hills Wealth Management LLC Buys 3,143 Shares of Corning Incorporated $GLW

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

Other institutional investors and hedge funds also recently made changes to their positions in the company. Alliance Wealth Advisors LLC boosted its position in shares of Corning by 1.4% during the 2nd quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after acquiring an additional 56 shares during the last quarter. Ares Financial Consulting LLC increased its position in Corning by 15.6% in the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 60 shares during the last quarter. Signature Equity Partners LLC increased its position in Corning by 19.3% in the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after purchasing an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC raised its stake in Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after purchasing an additional 64 shares in the last quarter. Finally, Balefire LLC lifted its position in Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after purchasing an additional 65 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.25% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently weighed in on GLW. Truist Financial boosted their target price on shares of Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a report on Friday, October 2nd. Sanford C. Bernstein started coverage on shares of Corning in a report on Wednesday, September 30th. They issued a “market perform” rating and a $140.00 price target for the company. The Goldman Sachs Group reissued an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Finally, Bank of America lifted their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Twelve analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. According to data from MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and a consensus target price of $174.87.

Corning Trading Down 2.0%

Shares of NYSE:GLW traded down $3.44 on Wednesday, hitting $165.53. 2,946,075 shares of the company’s stock were exchanged, compared to its average volume of 12,075,394. The business’s 50 day simple moving average is $154.28 and its two-hundred day simple moving average is $168.23. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The stock has a market capitalization of $142.59 billion, a price-to-earnings ratio of 75.42, a price-to-earnings-growth ratio of 2.03 and a beta of 1.13. Corning Incorporated has a 12 month low of $77.39 and a 12 month high of $271.78.

Corning (NYSE:GLW) last posted its quarterly 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 company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Analysts anticipate that Corning Incorporated will post 3.28 EPS for the current fiscal year.

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.