OLD Second National Bank of Aurora Sells 3,235 Shares of Corning Incorporated $GLW

OLD Second National Bank of Aurora trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 4.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 78,589 shares of the electronics maker’s stock after selling 3,235 shares during the quarter. Corning comprises about 2.2% of OLD Second National Bank of Aurora’s holdings, making the stock its 12th biggest holding. OLD Second National Bank of Aurora’s holdings in Corning were worth $10,686,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. KRS Capital Management LLC lifted its stake in shares of Corning by 2.2% in the first quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock worth $552,000 after buying an additional 88 shares in the last quarter. Sheets Smith Wealth Management increased its position in shares of Corning by 2.1% during the first quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock valued at $605,000 after acquiring an additional 90 shares in the last quarter. Beese Fulmer Investment Management Inc. increased its position in shares of Corning by 2.5% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock valued at $336,000 after acquiring an additional 92 shares in the last quarter. 3Chopt Investment Partners LLC raised its holdings in Corning by 1.0% in the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after acquiring an additional 97 shares during the last quarter. Finally, Patten & Patten Inc. TN raised its holdings in Corning by 0.6% in the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after acquiring an additional 100 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Price Performance

Shares of GLW opened at $223.00 on Friday. The firm has a fifty day simple moving average of $184.70 and a two-hundred day simple moving average of $141.72. The firm has a market cap of $191.92 billion, a PE ratio of 106.70, a P/E/G ratio of 3.26 and a beta of 1.15. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 1-year low of $51.32 and a 1-year high of $230.50.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. The company’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period last year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Analyst Ratings Changes

Several equities analysts recently issued reports on the company. Morgan Stanley set a $180.00 price objective on Corning in a research report on Friday, May 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. JPMorgan Chase & Co. upped their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Citigroup increased their price objective on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Finally, Truist Financial lifted their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

Insider Buying and Selling at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by corporate insiders.

About Corning

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.