Corning Incorporated $GLW Shares Sold by Patton Fund Management Inc.

Key Points

• Patton Fund Management Inc. has reduced its stake in Corning Incorporated by 44%, holding 61,427 shares valued at approximately $3.23 million after selling 48,237 shares in the second quarter.
• Insider sales at Corning included notable transactions by senior executives, with significant sales totaling more than $11.8 million over the last ninety days, indicating a reduction in their ownership stakes.
• Corning reported $0.60 EPS for the last quarter, exceeding expectations of $0.57, and has set a guidance of 0.630-0.670 EPS for Q3 2025.

Patton Fund Management Inc. lessened its stake in Corning Incorporated (NYSE:GLW - Free Report) by 44.0% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 61,427 shares of the electronics maker's stock after selling 48,237 shares during the quarter. Patton Fund Management Inc.'s holdings in Corning were worth $3,230,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. ST Germain D J Co. Inc. boosted its holdings in shares of Corning by 2.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 170,490 shares of the electronics maker's stock valued at $8,966,000 after purchasing an additional 4,702 shares during the last quarter. Evergreen Private Wealth LLC boosted its holdings in shares of Corning by 37.7% in the 2nd quarter. Evergreen Private Wealth LLC now owns 1,852 shares of the electronics maker's stock valued at $97,000 after purchasing an additional 507 shares during the last quarter. Patron Partners LLC boosted its holdings in shares of Corning by 2.9% in the 2nd quarter. Patron Partners LLC now owns 16,803 shares of the electronics maker's stock valued at $884,000 after purchasing an additional 472 shares during the last quarter. Randolph Co Inc boosted its holdings in shares of Corning by 0.5% in the 2nd quarter. Randolph Co Inc now owns 774,830 shares of the electronics maker's stock valued at $40,748,000 after purchasing an additional 3,873 shares during the last quarter. Finally, CX Institutional boosted its holdings in shares of Corning by 9.0% in the 2nd quarter. CX Institutional now owns 17,015 shares of the electronics maker's stock valued at $895,000 after purchasing an additional 1,400 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company's stock.

Insiders Place Their Bets

In other news, SVP Michael Paul O'day sold 14,879 shares of the stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the transaction, the senior vice president directly owned 35,743 shares in the company, valued at $2,228,933.48. This trade represents a 29.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Jaymin Amin sold 17,721 shares of the firm's 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 sale, 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 disclosure for this sale can be found here. Over the last ninety days, insiders sold 181,671 shares of company stock valued at $11,816,899. 0.40% of the stock is currently owned by insiders.

Corning Price Performance

NYSE GLW opened at $79.33 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $81.58. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The stock has a market cap of $67.96 billion, a price-to-earnings ratio of 84.39, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. The company has a 50-day moving average price of $68.01 and a two-hundred day moving average price of $54.67.

Corning (NYSE:GLW - Get Free Report) last posted its 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 firm had revenue of $3.86 billion during the quarter, compared to analysts' expectations of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter in the prior year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Analysts forecast that Corning Incorporated will post 2.33 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently weighed in on GLW. Argus restated a "buy" rating and set a $68.00 target price on shares of Corning in a report on Wednesday, July 30th. Citigroup lifted their target price on shares of Corning from $72.00 to $93.00 and gave the company a "buy" rating in a report on Wednesday. JPMorgan Chase & Co. lifted their target price on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Wolfe Research started coverage on shares of Corning in a research note on Tuesday, July 8th. They set an "outperform" rating on the stock. Finally, Wall Street Zen downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a research note on Saturday, September 13th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Corning presently has a consensus rating of "Moderate Buy" and an average target price of $70.08.

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.

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