Corning Incorporated $GLW Shares Sold by Janney Capital Management LLC

Key Points

• Janney Capital Management LLC reduced its stake in Corning Incorporated by 1.8%, now holding 187,564 shares valued at approximately $9.86 million.
• Corning reported a Q2 EPS of $0.60, exceeding estimates, with revenue of $3.86 billion, suggesting a strong performance relative to market expectations.
• Insider trading saw significant shares sold by executives, including 82,103 shares sold by CEO Wendell P. Weeks, indicating potential shifts in confidence among management.

Janney Capital Management LLC lessened its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 1.8% in the second quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 187,564 shares of the electronics maker's stock after selling 3,517 shares during the quarter. Janney Capital Management LLC's holdings in Corning were worth $9,864,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Davis Investment Partners LLC acquired a new stake in Corning during the 2nd quarter worth approximately $251,000. Central Pacific Bank Trust Division boosted its holdings in Corning by 23.6% in the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker's stock worth $3,838,000 after acquiring an additional 13,920 shares during the period. Strs Ohio purchased a new position in Corning in the 1st quarter worth approximately $27,219,000. Acadian Asset Management LLC boosted its holdings in Corning by 4,346.5% in the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker's stock worth $7,048,000 after acquiring an additional 150,521 shares during the period. Finally, Intech Investment Management LLC boosted its holdings in Corning by 507.6% in the 1st quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker's stock worth $9,665,000 after acquiring an additional 176,379 shares during the period. Institutional investors and hedge funds own 69.80% of the company's stock.

Corning Stock Up 1.1%

GLW opened at $80.26 on Tuesday. The business has a 50 day moving average price of $68.53 and a 200 day moving average price of $55.04. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $81.58. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The firm has a market cap of $68.75 billion, a P/E ratio of 85.38, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period in the previous year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Research analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Analyst Upgrades and Downgrades

GLW has been the subject of a number of analyst reports. Mizuho upped their price target on Corning from $63.00 to $74.00 and gave the stock an "outperform" rating in a report on Friday, August 8th. Morgan Stanley set a $56.00 price target on Corning and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Wall Street Zen cut Corning from a "strong-buy" rating to a "hold" rating in a research note on Saturday, September 13th. 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, Barclays raised their price objective on Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $70.08.

Insider Buying and Selling at Corning

In other news, EVP Lewis A. Steverson sold 16,646 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares in the company, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 82,103 shares of the business's 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 sale, 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 disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock valued at $11,816,899 in the last quarter. 0.32% of the stock is currently owned by corporate insiders.

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.

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.