AMG National Trust Bank Takes $8.91 Million Position in Corning Incorporated $GLW

Key Points

• AMG National Trust Bank purchased 34,900 Corning shares in the second quarter, establishing a position valued at approximately $8.91 million. Institutional investors collectively own 69.8% of the company.
• Corning reported quarterly earnings of $0.78 per share and revenue of $4.74 billion, exceeding analyst estimates; revenue increased 17.1% year over year. The company also issued third-quarter 2026 EPS guidance of $0.85–$0.89.
• Analysts maintain a generally positive outlook, with 11 Buy ratings and five Holds, resulting in a consensus “Moderate Buy” rating and a $174.08 price target. Meanwhile, Corning declared a quarterly dividend of $0.28 per share, yielding 0.7% annually.

AMG National Trust Bank purchased a new position in shares of Corning Incorporated (NYSE:GLW - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 34,900 shares of the electronics maker's stock, valued at approximately $8,915,000.

Other hedge funds also recently modified their holdings of the company. Berbice Capital Management LLC bought a new position in Corning in the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning during the 4th quarter worth approximately $26,000. Atwood & Palmer Inc. bought a new stake in shares of Corning during the 2nd quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning during the 4th quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of Corning in the 4th quarter valued at approximately $31,000. Institutional investors own 69.80% of the company's stock.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company's stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company's stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. 0.25% of the stock is currently owned by company insiders.

Corning Stock Down 0.1%

NYSE GLW opened at $165.85 on Monday. The business has a fifty day moving average price of $176.82 and a two-hundred day moving average price of $161.92. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. Corning Incorporated has a fifty-two week low of $63.37 and a fifty-two week high of $271.78. The stock has a market capitalization of $142.86 billion, a PE ratio of 75.73, a PEG ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter last year, the business posted $0.60 EPS. Corning's revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared 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 0.7%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio is 51.14%.

Wall Street Analyst Weigh In

GLW has been the subject of a number of analyst reports. Weiss Ratings raised shares of Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, August 7th. Mizuho cut their target price on shares of Corning from $270.00 to $210.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Zacks Research lowered Corning from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. UBS Group reaffirmed a "buy" rating and issued a $196.00 price objective on shares of Corning in a research report on Wednesday, July 29th. Finally, Truist Financial upgraded Corning from a "hold" rating to a "buy" rating and reduced their target price for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. Eleven investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to MarketBeat.com, Corning currently has a consensus rating of "Moderate Buy" and a consensus price target of $174.08.

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.

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