Midwest Trust Co Has $17.31 Million Holdings in Corning Incorporated $GLW

Key Points

• Midwest Trust Co cut its Corning stake by 21.1% in the fourth quarter, but still held 197,678 shares valued at about $17.31 million.
• Corning insiders have been selling shares recently, including CEO Wendell P. Weeks and EVP Lewis A. Steverson; insiders sold 177,256 shares worth $26.5 million over the last 90 days.
• Analysts remain generally positive on Corning after its earnings beat and upbeat outlook, with a consensus rating of Moderate Buy and an average price target of $172.15.

Midwest Trust Co lowered its stake in Corning Incorporated (NYSE:GLW - Free Report) by 21.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 197,678 shares of the electronics maker's stock after selling 52,829 shares during the period. Midwest Trust Co's holdings in Corning were worth $17,309,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning in the third quarter worth about $25,000. Strengthening Families & Communities LLC acquired a new position in shares of Corning during the 3rd quarter worth about $27,000. Cornerstone Planning Group LLC lifted its position in shares of Corning by 58.5% during the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker's stock worth $30,000 after purchasing an additional 124 shares during the last quarter. JPL Wealth Management LLC acquired a new position in shares of Corning during the 3rd quarter worth about $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of Corning during the 4th quarter worth about $35,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Buying and Selling

In other news, CEO Wendell P. Weeks sold 137,514 shares of the company's stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the sale, the chief executive officer directly owned 750,585 shares in the company, valued at approximately $116,618,391.45. This represents a 15.48% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Lewis A. Steverson sold 15,366 shares of the company's stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total value of $2,000,960.52. Following the completion of the sale, the executive vice president owned 3,461 shares in the company, valued at approximately $450,691.42. This represents a 81.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 177,256 shares of company stock worth $26,541,572. Insiders own 0.25% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on GLW. Susquehanna boosted their price objective on Corning from $125.00 to $180.00 and gave the stock a "positive" rating in a research report on Wednesday, April 29th. Wall Street Zen cut Corning from a "buy" rating to a "hold" rating in a research report on Saturday. Zacks Research raised Corning from a "hold" rating to a "strong-buy" rating in a research report on Monday, April 27th. Weiss Ratings raised Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. Finally, Fox Advisors cut Corning from an "overweight" rating to an "equal weight" rating in a research report on Thursday, January 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $172.15.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Nvidia is funding Corning’s plant construction and taking an equity stake, signaling a long-term strategic partnership that could materially grow Corning’s AI-related manufacturing business. Nvidia funds construction of Corning plants, in addition to equity investment
• Positive Sentiment: Analysts have been raising price targets and keeping generally constructive ratings, with Citi, Oppenheimer, and others citing stronger growth prospects after Corning’s recent results and the Nvidia deal. Analysts Have Conflicting Sentiments on These Technology Companies: Coherent Corp (COHR), Corning (GLW) and Fortinet (FTNT)
• Neutral Sentiment: Corning is also drawing attention from media and commentators, including a Closing Bell appearance and bullish commentary from Jim Cramer, which may support sentiment but does not change fundamentals by itself. Corning Incorporated to ring the NYSE Closing Bell® on Thursday
• Neutral Sentiment: Some articles warn the stock may be getting extended after a huge one-year run, suggesting valuation risk could limit upside if AI enthusiasm cools. Is Corning (GLW) Getting Ahead Of Itself After A 311% One Year Surge?
• Negative Sentiment: JPMorgan’s relatively cautious view and neutral rating suggest some analysts still see limited near-term upside after the rally, even with the higher target. Corning price target raised by JPMorgan Chase & Co.

Corning Trading Up 2.2%

Shares of GLW opened at $186.47 on Friday. Corning Incorporated has a 12-month low of $44.83 and a 12-month high of $198.25. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $160.48 billion, a price-to-earnings ratio of 89.22, a P/E/G ratio of 2.65 and a beta of 1.14. The stock's 50-day moving average price is $150.46 and its 200 day moving average price is $115.11.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the company posted $0.54 earnings per share. The company's quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date is Friday, May 29th. Corning's payout ratio is currently 53.59%.

Corning Company 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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