Wilmington Savings Fund Society FSB Has $17.05 Million Holdings in Corning Incorporated $GLW

Wilmington Savings Fund Society FSB cut its holdings in Corning Incorporated (NYSE:GLW) by 5.5% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 324,236 shares of the electronics maker’s stock after selling 18,870 shares during the quarter. Wilmington Savings Fund Society FSB’s holdings in Corning were worth $17,052,000 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 acquired a new stake in Corning in the second quarter valued at about $251,000. Central Pacific Bank Trust Division raised its position 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 valued at $3,838,000 after purchasing an additional 13,920 shares during the last quarter. Strs Ohio bought a new position in Corning in the first quarter valued at about $27,219,000. Acadian Asset Management LLC raised its position 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 valued at $7,048,000 after purchasing an additional 150,521 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in Corning by 507.6% in the first quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock valued at $9,665,000 after purchasing an additional 176,379 shares during the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have commented on GLW. JPMorgan Chase & Co. increased their target price on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Argus reiterated a “buy” rating and issued a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. Citigroup raised their price objective on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research report on Wednesday, September 24th. Wolfe Research assumed coverage on Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. Finally, Morgan Stanley lifted their price objective on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research note on Friday. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, Corning has an average rating of “Moderate Buy” and a consensus target price of $73.00.

Corning Trading Up 3.1%

Shares of Corning stock opened at $85.59 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78. The stock has a 50 day moving average price of $73.63 and a two-hundred day moving average price of $57.60. The stock has a market capitalization of $73.32 billion, a PE ratio of 91.05, a price-to-earnings-growth ratio of 1.85 and a beta of 1.14.

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

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be paid 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 (DPR) is 119.15%.

Insider Transactions at Corning

In related news, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the transaction, the senior vice president owned 88,722 shares of the company’s stock, valued at $6,847,563.96. The trade was a 16.65% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Wendell P. Weeks sold 82,103 shares of Corning stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the transaction, the chief executive officer directly owned 809,295 shares in the company, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock valued at $11,816,899. 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.