Atlantic Union Bankshares Corp Raises Position in Corning Incorporated $GLW

Atlantic Union Bankshares Corp lifted its stake in shares of Corning Incorporated (NYSE:GLW) by 159.5% during the third quarter, Holdings Channel reports. The fund owned 79,900 shares of the electronics maker’s stock after acquiring an additional 49,113 shares during the period. Atlantic Union Bankshares Corp’s holdings in Corning were worth $6,554,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. REAP Financial Group LLC increased its stake in shares of Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after buying an additional 339 shares during the period. Total Investment Management Inc. acquired a new stake in shares of Corning in the 2nd quarter valued at $28,000. Financial Management Professionals Inc. lifted its position in shares of Corning by 111.1% during the 3rd quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Corning during the second quarter worth $36,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in Corning in the second quarter valued at $38,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Stock Up 6.8%

GLW opened at $110.32 on Tuesday. 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 $113.99. The stock has a market capitalization of $94.58 billion, a P/E ratio of 59.95, a P/E/G ratio of 1.79 and a beta of 1.13. The business has a 50 day simple moving average of $90.49 and a 200-day simple moving average of $80.75.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The company had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.Corning’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the company earned $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, insider Eric S. Musser sold 25,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider owned 19,926 shares of the company’s stock, valued at $2,191,860. The trade was a 55.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Edward A. Schlesinger sold 21,104 shares of Corning stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $104.55, for a total value of $2,206,423.20. Following the transaction, the chief financial officer directly owned 54,780 shares of the company’s stock, valued at approximately $5,727,249. This represents a 27.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 46,148 shares of company stock valued at $4,960,928. Insiders own 0.32% of the company’s stock.

Analyst Ratings Changes

GLW has been the subject of several analyst reports. Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, January 27th. Mizuho raised their price objective on shares of Corning from $97.00 to $120.00 and gave the stock an “outperform” rating in a report on Thursday. Wolfe Research set a $130.00 price objective on shares of Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Argus increased their target price on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. Finally, Citigroup boosted their price target on shares of Corning from $102.00 to $120.00 and gave the company a “buy” rating in a research report on Thursday, January 29th. Nine research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corning currently has an average rating of “Moderate Buy” and an average price target of $112.36.

Corning Company 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.