Lineweaver Wealth Advisors LLC Sells 3,443 Shares of Corning Incorporated $GLW

Lineweaver Wealth Advisors LLC lowered its holdings in shares of Corning Incorporated (NYSE:GLW) by 11.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,298 shares of the electronics maker’s stock after selling 3,443 shares during the period. Lineweaver Wealth Advisors LLC’s holdings in Corning were worth $1,383,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Davis Investment Partners LLC purchased a new position in Corning in the second quarter worth about $251,000. Central Pacific Bank Trust Division raised its holdings in Corning by 23.6% in the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after buying an additional 13,920 shares during the last quarter. Acadian Asset Management LLC raised its holdings in Corning by 4,346.5% in the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock worth $7,048,000 after buying an additional 150,521 shares during the last quarter. Intech Investment Management LLC raised its holdings in Corning by 507.6% in the first quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock worth $9,665,000 after buying an additional 176,379 shares during the last quarter. Finally, Gotham Asset Management LLC purchased a new position in Corning in the fourth quarter worth about $306,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GLW has been the subject of several recent analyst reports. UBS Group raised shares of Corning from a “neutral” rating to a “buy” rating and lifted their target price for the stock from $65.00 to $84.00 in a report on Tuesday, September 2nd. JPMorgan Chase & Co. boosted their price objective on shares of Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday. Mizuho boosted their price objective on shares of Corning from $63.00 to $74.00 and gave the company an “outperform” rating in a report on Friday, August 8th. Finally, Wolfe Research initiated coverage on shares of Corning in a report on Tuesday, July 8th. They set an “outperform” rating for the company. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $66.75.

Corning Stock Performance

GLW opened at $78.74 on Wednesday. The firm has a market cap of $67.45 billion, a P/E ratio of 83.77, a PEG ratio of 1.75 and a beta of 1.09. Corning Incorporated has a 1-year low of $37.31 and a 1-year high of $78.81. The company has a 50 day simple moving average of $63.79 and a two-hundred day simple moving average of $52.89. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same quarter in the prior year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, August 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. Corning’s dividend payout ratio is currently 119.15%.

Insider Activity

In related news, SVP Michael Paul O’day sold 14,879 shares of the company’s stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the transaction, the senior vice president owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the transaction, the chief operating officer owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 163,950 shares of company stock valued at $10,449,192 in the last quarter. Company insiders own 0.32% of the company’s stock.

About Corning

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.