Corning Incorporated $GLW Shares Purchased by Vest Financial LLC

Key Points

• Vest Financial LLC increased its stake in Corning Incorporated shares by 20.8% during the second quarter, owning 28,046 shares valued at $1,475,000.
• Corning's CEO Wendell P. Weeks sold 82,103 shares for approximately $5.35 million, reducing his ownership by 9.21%.
• The company announced a quarterly dividend of $0.28 per share, with an annualized yield of 1.3%, payable on December 12th.

Vest Financial LLC raised its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 20.8% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 28,046 shares of the electronics maker's stock after purchasing an additional 4,822 shares during the period. Vest Financial LLC's holdings in Corning were worth $1,475,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLW. REAP Financial Group LLC increased its position in Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker's stock worth $27,000 after purchasing an additional 339 shares during the last quarter. Investment Management Corp VA ADV increased its position in Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its position in Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after purchasing an additional 353 shares during the last quarter. Banque Transatlantique SA acquired a new position in Corning during the first quarter worth approximately $34,000. Finally, Resources Management Corp CT ADV increased its position in 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 purchasing an additional 300 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the transaction, the chief executive officer directly owned 809,295 shares in the company, valued at $52,757,941.05. This represents a 9.21% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction on Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the transaction, the executive vice president owned 39,759 shares in the company, valued at $2,473,804.98. This trade represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock worth $11,816,899 over the last ninety days. Insiders own 0.32% of the company's stock.

Corning Price Performance

GLW opened at $84.69 on Wednesday. The company has a fifty day simple moving average of $74.06 and a 200 day simple moving average of $57.79. The firm has a market cap of $72.55 billion, a price-to-earnings ratio of 90.10, a PEG ratio of 1.91 and a beta of 1.14. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $87.78. 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 (NYSE:GLW - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.03. The business had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same period last year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Equities research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The business 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 dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning's dividend payout ratio is 119.15%.

Analyst Ratings Changes

Several equities analysts recently commented on GLW shares. Citigroup upped their price target on shares of Corning from $72.00 to $93.00 and gave the stock a "buy" rating in a research report on Wednesday, September 24th. Argus reissued a "buy" rating and issued a $68.00 price objective on shares of Corning in a research report on Wednesday, July 30th. Wolfe Research started coverage on shares of Corning in a research report on Tuesday, July 8th. They issued an "outperform" rating for the company. Wall Street Zen lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a research report on Saturday, September 13th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a research report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $73.00.

Corning Company 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.

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