Town & Country Bank & Trust CO dba First Bankers Trust CO Buys 10,178 Shares of Corning Incorporated $GLW

Key Points

• Town & Country Bank & Trust CO increased its stake in Corning Incorporated by 22.8%, acquiring an additional 10,178 shares, bringing its total ownership to 54,789 shares valued at approximately $2.88 million.
• Corning reported earnings of $0.60 per share for the last quarter, surpassing estimates, and has set a Q3 2025 guidance of $0.630-0.670 EPS.
• The company announced a quarterly dividend of $0.28 per share, with a payout ratio of 119.15%, which contributes to an annualized dividend yield of 1.4%.

Town & Country Bank & Trust CO dba First Bankers Trust CO grew its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 22.8% during the second quarter, according to the company in its most recent disclosure with the SEC. The fund owned 54,789 shares of the electronics maker's stock after buying an additional 10,178 shares during the quarter. Corning makes up 1.1% of Town & Country Bank & Trust CO dba First Bankers Trust CO's holdings, making the stock its 28th biggest holding. Town & Country Bank & Trust CO dba First Bankers Trust CO's holdings in Corning were worth $2,881,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Davis Investment Partners LLC acquired a new position in Corning in the 2nd quarter worth about $251,000. Central Pacific Bank Trust Division grew its holdings in shares of Corning by 23.6% during the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker's stock worth $3,838,000 after purchasing an additional 13,920 shares during the last quarter. Strs Ohio acquired a new position in shares of Corning in the first quarter valued at approximately $27,219,000. Acadian Asset Management LLC increased its stake in shares of Corning by 4,346.5% in the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker's stock valued at $7,048,000 after buying an additional 150,521 shares during the period. Finally, Intech Investment Management LLC raised its holdings in Corning by 507.6% in the 1st quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker's stock valued at $9,665,000 after buying an additional 176,379 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Corning Stock Performance

NYSE GLW opened at $79.11 on Tuesday. The company has a fifty day simple moving average of $65.89 and a 200 day simple moving average of $53.83. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $79.98. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The company has a market cap of $67.76 billion, a P/E ratio of 84.15, a PEG ratio of 1.78 and a beta of 1.09.

Corning (NYSE:GLW - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Friday, August 29th. Corning's dividend payout ratio is currently 119.15%.

Insiders Place Their Bets

In other news, CEO Wendell P. Weeks sold 82,103 shares of the stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the sale, the chief executive officer directly owned 809,295 shares of the company's stock, valued at $52,757,941.05. This represents a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael Paul O'day sold 14,879 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the transaction, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock worth $11,816,899 in the last 90 days. Company insiders own 0.32% of the company's stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. Morgan Stanley set a $56.00 target price on shares of Corning and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Citigroup boosted their price objective on shares of Corning from $52.00 to $60.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Mizuho increased their price objective on Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a report on Friday, August 8th. Argus reaffirmed a "buy" rating and set a $68.00 target price on shares of Corning in a research report on Wednesday, July 30th. Finally, Barclays upped their price target on Corning from $52.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, July 30th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $66.75.

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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