Northside Capital Management LLC Makes New Investment in Corning Incorporated $GLW

Key Points

• Northside Capital Management LLC has acquired a new position in Corning Incorporated by purchasing 6,184 shares, estimated at approximately $325,000.
• In recent months, several other institutional investors have increased their stakes in Corning, leading to institutional ownership of 69.80%.
• Corning's latest quarterly earnings report showed earnings per share (EPS) of $0.60, surpassing the estimated EPS of $0.57.

Northside Capital Management LLC bought a new position in Corning Incorporated (NYSE:GLW - Free Report) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 6,184 shares of the electronics maker's stock, valued at approximately $325,000.

A number of other large investors have also recently bought and sold shares of GLW. Vermillion Wealth Management Inc. bought a new position in Corning in the fourth quarter worth about $29,000. Investment Management Corp VA ADV lifted its holdings in Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after acquiring an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after acquiring an additional 353 shares during the last quarter. Banque Transatlantique SA bought a new stake in shares of Corning during the first quarter valued at approximately $34,000. Finally, Resources Management Corp CT ADV raised its holdings in shares of Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock valued at $34,000 after buying an additional 300 shares during the last quarter. Institutional investors own 69.80% of the company's stock.

Insider Transactions at Corning

In related news, SVP Jaymin Amin sold 17,721 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the completion of the transaction, the senior vice president owned 88,722 shares of the company's stock, valued at approximately $6,847,563.96. This trade represents a 16.65% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Michael Paul O'day sold 14,879 shares of the firm's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the transaction, the senior vice president directly owned 35,743 shares of the company's stock, valued at $2,228,933.48. This represents a 29.39% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.32% of the stock is currently owned by insiders.

Corning Trading Up 2.3%

Corning stock opened at $81.00 on Wednesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The firm has a market cap of $69.39 billion, a price-to-earnings ratio of 86.17, a price-to-earnings-growth ratio of 1.77 and a beta of 1.09. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $81.02. The firm's 50 day moving average price is $66.46 and its two-hundred day moving average price is $54.02.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates 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 previous year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, research analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of recent analyst reports. Wolfe Research initiated coverage on Corning in a report on Tuesday, July 8th. They set an "outperform" rating on the stock. JPMorgan Chase & Co. lifted their price target on Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 25th. Mizuho lifted their price target on Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Morgan Stanley set a $56.00 price target on Corning and gave the company an "equal weight" rating in a report on Wednesday, July 30th. Finally, Barclays lifted their price target on Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $67.33.

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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