NBT Bank N A NY Sells 5,539 Shares of Corning Incorporated $GLW

NBT Bank N A NY cut its position in Corning Incorporated (NYSE:GLW) by 42.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 7,384 shares of the electronics maker’s stock after selling 5,539 shares during the period. NBT Bank N A NY’s holdings in Corning were worth $606,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in GLW. REAP Financial Group LLC boosted its stake in Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 339 shares during the last quarter. Total Investment Management Inc. bought a new stake in Corning in the 2nd quarter worth about $28,000. Financial Management Professionals Inc. boosted its holdings 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 valued at $31,000 after acquiring an additional 200 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Corning in the second quarter worth approximately $36,000. Finally, Elevation Point Wealth Partners LLC purchased a new position in shares of Corning during the second quarter valued at approximately $38,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Activity

In related news, EVP Lewis A. Steverson sold 23,142 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the completion of the transaction, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. This represents a 56.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Stefan Becker sold 12,100 shares of the stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the completion of the sale, the senior vice president owned 5,049 shares of the company’s stock, valued at $460,872.72. The trade was a 70.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 156,135 shares of company stock worth $14,088,769 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Up 0.9%

NYSE GLW opened at $94.31 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $96.64. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $80.86 billion, a P/E ratio of 59.69, a price-to-earnings-growth ratio of 1.16 and a beta of 1.13. The stock’s 50-day moving average price is $86.87 and its 200-day moving average price is $76.97.

Corning (NYSE:GLW) last released its earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.24 billion. During the same period in the prior year, the firm posted $0.54 EPS. The firm’s quarterly revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, equities research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have commented on GLW. Morgan Stanley lifted their target price on shares of Corning from $82.00 to $98.00 and gave the stock an “equal weight” rating in a research report on Wednesday, December 17th. UBS Group reaffirmed a “buy” rating and issued a $109.00 price objective (up previously from $100.00) on shares of Corning in a report on Friday, November 21st. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Monday, December 29th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Friday, November 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Corning from $85.00 to $100.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $93.36.

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.