M&T Bank Corp Grows Holdings in Corning Incorporated $GLW

Key Points

• M&T Bank Corp increased its stake in Corning by 8.5% in Q4 to 153,704 shares (an additional 12,033 shares), valued at about $13.46 million.
• Company insiders have been net sellers — CEO Wendell P. Weeks sold 137,514 shares (~$21.37M) and insiders sold 187,053 shares (~$27.65M) over the past 90 days.
• Corning beat Q1 EPS ($0.70 vs. $0.69) with revenue up 18.1% to $4.35B, set Q2 guidance of $0.73–$0.77, and holds an analyst consensus of "Moderate Buy" with an average target of $150.31.

M&T Bank Corp grew its holdings in Corning Incorporated (NYSE:GLW - Free Report) by 8.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 153,704 shares of the electronics maker's stock after purchasing an additional 12,033 shares during the period. M&T Bank Corp's holdings in Corning were worth $13,458,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. First National Bank & Trust Co. of Newtown increased its stake in Corning by 3.3% in the fourth quarter. First National Bank & Trust Co. of Newtown now owns 37,086 shares of the electronics maker's stock worth $3,247,000 after purchasing an additional 1,200 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in Corning in the fourth quarter worth $1,777,000. Kestra Private Wealth Services LLC increased its stake in Corning by 17.0% in the fourth quarter. Kestra Private Wealth Services LLC now owns 84,718 shares of the electronics maker's stock worth $7,418,000 after purchasing an additional 12,283 shares during the period. Simon Quick Advisors LLC increased its stake in Corning by 4.5% in the fourth quarter. Simon Quick Advisors LLC now owns 4,329 shares of the electronics maker's stock worth $379,000 after purchasing an additional 185 shares during the period. Finally, Sanctuary Advisors LLC increased its stake in Corning by 3.9% in the fourth quarter. Sanctuary Advisors LLC now owns 264,677 shares of the electronics maker's stock worth $23,175,000 after purchasing an additional 9,963 shares during the period. Hedge funds and other institutional investors own 69.80% of the company's stock.

Insider Activity at Corning

In related news, COO Avery H. Nelson III sold 1,583 shares of the firm's stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $128.74, for a total transaction of $203,795.42. Following the sale, the chief operating officer owned 59,788 shares of the company's stock, valued at $7,697,107.12. This trade represents a 2.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the firm's stock in a transaction dated Thursday, February 26th. The shares were 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. The trade was a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 187,053 shares of company stock valued at $27,653,630 over the last 90 days. Company insiders own 0.25% of the company's stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GLW. Zacks Research upgraded Corning from a "hold" rating to a "strong-buy" rating in a research note on Monday, April 27th. Truist Financial increased their price target on Corning from $125.00 to $149.00 and gave the stock a "hold" rating in a research report on Wednesday, April 29th. Weiss Ratings raised Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. Oppenheimer set a $120.00 price target on Corning in a research report on Thursday, January 29th. Finally, Wall Street Zen raised Corning from a "hold" rating to a "buy" rating in a research report on Friday, January 23rd. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $150.31.

Corning Price Performance

GLW opened at $160.41 on Tuesday. Corning Incorporated has a 12-month low of $44.33 and a 12-month high of $179.08. 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 business's fifty day simple moving average is $148.66 and its 200-day simple moving average is $113.22. The company has a market capitalization of $137.80 billion, a price-to-earnings ratio of 76.75, a PEG ratio of 2.26 and a beta of 1.14.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly 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. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter in the prior year, the company earned $0.54 EPS. The business's 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. On average, equities research analysts anticipate that Corning Incorporated will post 3.17 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning's dividend payout ratio (DPR) is presently 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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