3,863 Shares in Corning Incorporated $GLW Bought by Stock Yards Bank & Trust Co.

Key Points

• Stock Yards Bank & Trust Co. acquired 3,863 shares of Corning Inc. valued at approximately $203,000 during the second quarter, reflecting ongoing interest from institutional investors.
• CEO Wendell P. Weeks sold 82,103 shares for over $5.3 million, resulting in a 9.21% decrease in his ownership of the company, amid a trend of insider selling.
• Corning's stock has been rated favorably by analysts, with target prices ranging from $56.00 to $75.00, and an average rating of "Moderate Buy."

Stock Yards Bank & Trust Co. bought a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 3,863 shares of the electronics maker's stock, valued at approximately $203,000.

Several other institutional investors have also added to or reduced their stakes in GLW. Investment Management Corp VA ADV raised its position 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 purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in 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 purchasing an additional 353 shares in the last quarter. Banque Transatlantique SA purchased a new position in shares of Corning in the first quarter worth $34,000. Resources Management Corp CT ADV lifted its stake in shares of 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 buying an additional 300 shares during the period. Finally, Gen Wealth Partners Inc grew its holdings in shares of Corning by 151.7% during the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock valued at $35,000 after buying an additional 455 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Buying and Selling

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the company's stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Avery H. Nelson III sold 36,240 shares of the firm's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the sale, the chief operating officer owned 64,838 shares in the company, valued at $4,036,813.88. This trade represents a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock valued at $11,816,899 in the last ninety days. Company insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

GLW has been the subject of a number of research analyst reports. Morgan Stanley set a $56.00 price target on Corning and gave the stock an "equal weight" rating in a research report on Wednesday, July 30th. Susquehanna reaffirmed a "positive" rating and set a $75.00 target price (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. Oppenheimer reiterated an "outperform" rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. Argus restated a "buy" rating and set a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. Finally, Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Corning in a report on Saturday, September 27th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, Corning currently has an average rating of "Moderate Buy" and an average target price of $71.42.

Corning Trading Up 1.3%

Shares of NYSE:GLW opened at $83.60 on Monday. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $84.35. The business has a 50 day moving average of $70.74 and a two-hundred day moving average of $56.02. The company has a market capitalization of $71.62 billion, a PE ratio of 88.94, a PEG ratio of 1.86 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS 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 business had revenue of $3.86 billion for the quarter, compared to analysts' expectations of $3.84 billion. During the same quarter last year, the company earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Corning 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.