Corning Incorporated $GLW Shares Bought by IFG Advisors LLC

IFG Advisors LLC lifted its stake in shares of Corning Incorporated (NYSE:GLW) by 11.4% in the second quarter, Holdings Channel reports. The institutional investor owned 11,087 shares of the electronics maker’s stock after buying an additional 1,135 shares during the quarter. IFG Advisors LLC’s holdings in Corning were worth $583,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in GLW. REAP Financial Group LLC increased its holdings in Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after buying an additional 339 shares during the last quarter. Investment Management Corp VA ADV increased its holdings in shares of Corning by 165.9% in the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 353 shares in the last quarter. Banque Transatlantique SA acquired a new stake in shares of Corning during the 1st quarter valued at approximately $34,000. Finally, Resources Management Corp CT ADV lifted its stake in Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after purchasing an additional 300 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts have weighed in on GLW shares. JPMorgan Chase & Co. boosted their target price on shares of Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Oppenheimer reaffirmed an “outperform” rating and set a $72.00 price objective (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Argus reissued a “buy” rating and issued a $68.00 target price on shares of Corning in a report on Wednesday, July 30th. Barclays lifted their target price on Corning from $52.00 to $65.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 30th. Finally, Susquehanna reiterated a “positive” rating and set a $75.00 price target (up from $60.00) on shares of Corning in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $73.00.

Insider Activity at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total value of $1,035,714.12. Following the transaction, the executive vice president owned 39,759 shares of the company’s stock, valued at $2,473,804.98. The trade was a 29.51% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Wendell P. Weeks sold 82,103 shares of the firm’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the sale, the chief executive officer owned 809,295 shares of the company’s stock, valued at $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 181,671 shares of company stock worth $11,816,899. Company insiders own 0.32% of the company’s stock.

Corning Stock Performance

Shares of GLW opened at $84.69 on Wednesday. The firm has a market capitalization of $72.55 billion, a PE ratio of 90.10, a P/E/G ratio of 1.91 and a beta of 1.14. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The firm has a 50-day moving average price of $74.06 and a 200 day moving average price of $57.79. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $87.78.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion during the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the firm posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, sell-side analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is presently 119.15%.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.