Meridian Financial Partners LLC Buys 12,326 Shares of Corning Incorporated $GLW

Key Points

• Meridian Financial Partners bought 12,326 Corning shares worth approximately $1.895 million in the third quarter, while institutional investors collectively own 69.8% of GLW.
• Analyst sentiment remains favorable, with 13 Buy ratings and seven Holds producing a consensus “Moderate Buy” rating and an average price target of $177.25.
• Corning’s latest quarter exceeded expectations, with EPS of $0.78 and revenue of $4.74 billion, up 17.1% year over year; the company also guided for third-quarter EPS of $0.85–$0.89 and declared a $0.28 quarterly dividend.

Meridian Financial Partners LLC bought a new stake in Corning Incorporated (NYSE:GLW - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 12,326 shares of the electronics maker's stock, valued at approximately $1,895,000.

Other institutional investors and hedge funds have also modified their holdings of the company. Bernardo Wealth Planning LLC lifted its position in shares of Corning by 107.0% in the third quarter. Bernardo Wealth Planning LLC now owns 3,864 shares of the electronics maker's stock worth $594,000 after purchasing an additional 1,997 shares in the last quarter. Signaturefd LLC boosted its stake in shares of Corning by 5.7% during the 3rd quarter. Signaturefd LLC now owns 29,572 shares of the electronics maker's stock valued at $4,547,000 after buying an additional 1,582 shares during the period. BG Investment Services LLC acquired a new position in shares of Corning in the third quarter worth $340,000. Citizens Financial Group Inc. RI grew its stake in Corning by 0.4% in the third quarter. Citizens Financial Group Inc. RI now owns 106,845 shares of the electronics maker's stock valued at $16,429,000 after purchasing an additional 433 shares in the last quarter. Finally, Simplicity Wealth LLC increased its position in Corning by 18.0% in the 3rd quarter. Simplicity Wealth LLC now owns 6,973 shares of the electronics maker's stock worth $1,072,000 after purchasing an additional 1,064 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company's stock.

Analyst Upgrades and Downgrades

GLW has been the subject of several research reports. Truist Financial lifted their price target on Corning from $175.00 to $182.00 and gave the company a "buy" rating in a report on Friday, October 2nd. China Renaissance upgraded Corning from a "hold" rating to a "buy" rating and set a $238.00 price objective on the stock in a report on Tuesday, September 8th. Mizuho reduced their target price on shares of Corning from $210.00 to $180.00 and set an "outperform" rating for the company in a research note on Tuesday, September 15th. Morgan Stanley reduced their target price on shares of Corning from $180.00 to $165.00 and set an "equal weight" rating for the company in a research note on Wednesday, July 29th. Finally, The Goldman Sachs Group reissued an "outperform" rating on shares of Corning in a research report on Tuesday, September 15th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company's stock. According to MarketBeat.com, Corning presently has an average rating of "Moderate Buy" and a consensus price target of $177.25.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s presentation at the OCP Global Summit highlighted demand for optical fiber and high-density connectivity used in AI data centers. Long-term supply agreements with Amazon, NVIDIA, Meta and Verizon improve visibility for the Optical Communications business and could support future growth. Will AI Fiber Demand Change Corning’s Narrative
• Positive Sentiment: Analyst estimates are rising ahead of third-quarter results, with AI-driven optical demand and major customer agreements viewed as potential earnings catalysts. Solar profitability recovery remains an important factor for the quarter. Is Corning Stock a Smart Investment Option Before Q3 Earnings Release?
• Neutral Sentiment: Wall Street is closely focused on third-quarter revenue, earnings and operating metrics. Corning’s latest reported quarter exceeded consensus expectations, with revenue up 17.1% year over year, while current guidance calls for third-quarter EPS of $0.85 to $0.89. Unlocking Q3 Potential of Corning
• Negative Sentiment: JPMorgan lowered its price target for Corning to $165, triggering renewed selling pressure. The reduction suggests the bank sees less near-term upside after the stock’s substantial multiyear rally, despite maintaining interest in the AI-fiber opportunity. JPMorgan Cuts Target for Corning Stock to USD 165
• Negative Sentiment: Pomerantz LLP announced an investigation into potential claims on behalf of Corning investors. The announcement does not establish wrongdoing, but it adds headline and legal risk. Pomerantz Investor Alert

Insider Transactions at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. This trade represents a 46.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 0.25% of the company's stock.

Corning Stock Down 0.2%

Shares of GLW stock opened at $123.75 on Friday. The stock's 50 day simple moving average is $150.96 and its 200 day simple moving average is $168.28. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company has a market capitalization of $106.60 billion, a price-to-earnings ratio of 56.51, a PEG ratio of 1.56 and a beta of 1.13.

Corning (NYSE:GLW - Get Free Report) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%. The firm had revenue of $4.74 billion during the quarter, compared to analysts' expectations of $4.63 billion. During the same quarter in the prior year, the business earned $0.60 earnings per share. The company's revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts predict that Corning Incorporated will post 3.30 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Investors of record on Friday, November 13th will be paid a $0.28 dividend. The ex-dividend date is Friday, November 13th. This represents a $1.12 dividend on an annualized basis and a yield of 0.9%. Corning's dividend payout ratio (DPR) is presently 51.14%.

Corning Profile

Corning Incorporated NYSE: GLW is a technology company that develops and manufactures specialty glass, ceramics and optical-fiber products. Its materials and engineering expertise support communications networks, consumer electronics, automotive systems, life sciences and other industrial applications.

The company's products include optical fiber, cable and connectivity solutions used in telecommunications infrastructure; glass substrates for televisions, computer monitors and other displays; durable cover glass for mobile devices; emissions-control components for vehicles; laboratory glassware and consumables; and specialized glass and ceramic materials for scientific, industrial and semiconductor applications.

Founded in 1851 and headquartered in Corning, New York, the company serves customers through operations and facilities across North America, Europe, Asia and other international markets.

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