First National Bank & Trust Co. of Newtown Sells 6,576 Shares of Corning Incorporated $GLW

Key Points

• First National Bank & Trust Co. of Newtown reduced its Corning stake by 17.7% in the first quarter, selling 6,576 shares and leaving it with 30,510 shares worth about $4.15 million.
• Corning has seen notable insider selling, including transactions by VP John Z. Zhang and SVP Soumya Seetharam; insiders have sold 160,655 shares over the last 90 days.
• Despite mixed analyst moves, Corning reported better-than-expected earnings for the latest quarter and raised its Q2 2026 guidance, while also declaring a quarterly dividend of $0.28 per share.

First National Bank & Trust Co. of Newtown trimmed its holdings in shares of Corning Incorporated (NYSE:GLW - Free Report) by 17.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,510 shares of the electronics maker's stock after selling 6,576 shares during the quarter. Corning comprises 0.9% of First National Bank & Trust Co. of Newtown's portfolio, making the stock its 20th biggest holding. First National Bank & Trust Co. of Newtown's holdings in Corning were worth $4,148,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Berbice Capital Management LLC acquired a new position in shares of Corning during the 4th quarter valued at about $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the 4th quarter worth approximately $26,000. Kemnay Advisory Services Inc. acquired a new stake in Corning in the 4th quarter worth approximately $27,000. Litman Gregory Wealth Management LLC bought a new stake in Corning during the fourth quarter worth approximately $31,000. Finally, Evolution Wealth Management Inc. grew its holdings in Corning by 58.8% during the fourth quarter. Evolution Wealth Management Inc. now owns 381 shares of the electronics maker's stock valued at $33,000 after purchasing an additional 141 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insider Activity at Corning

In related news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 160,655 shares of company stock worth $30,692,560. Insiders own 0.25% of the company's stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on GLW. Weiss Ratings restated a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. Wall Street Zen downgraded shares of Corning from a "buy" rating to a "hold" rating in a report on Saturday, June 6th. Zacks Research downgraded shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 26th. UBS Group set a $243.00 target price on shares of Corning in a research report on Monday. Finally, JPMorgan Chase & Co. upped their price target on shares of Corning from $175.00 to $185.00 and gave the company a "neutral" rating in a report on Thursday, May 7th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $193.54.

Corning Stock Up 4.6%

GLW opened at $192.53 on Friday. Corning Incorporated has a 1-year low of $51.32 and a 1-year high of $271.78. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $165.70 billion, a price-to-earnings ratio of 92.12, a P/E/G ratio of 2.41 and a beta of 1.09. The business has a 50 day moving average of $192.40 and a 200-day moving average of $149.67.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning's revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The business 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 0.6%. The ex-dividend date is Monday, August 31st. Corning's dividend payout ratio (DPR) is currently 53.59%.

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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