Twelve Points Wealth Management LLC Takes $223,000 Position in Corning Incorporated $GLW

Key Points

• Twelve Points Wealth Management LLC acquired a new stake in Corning Incorporated, purchasing 4,248 shares valued at approximately $223,000.
• Insider transactions revealed that CEO Wendell P. Weeks sold over 82,000 shares, decreasing his ownership by 9.21%, while other executives also sold significant shares recently.
• Corning's stock has been upgraded by multiple analysts, with price targets ranging from $56.00 to $93.00, reflecting a positive outlook on the company's performance.

Twelve Points Wealth Management LLC bought a new stake in shares of Corning Incorporated (NYSE:GLW - Free Report) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 4,248 shares of the electronics maker's stock, valued at approximately $223,000.

Other large investors have also recently made changes to their positions in the company. Signaturefd LLC increased its holdings in Corning by 5.0% in the 2nd quarter. Signaturefd LLC now owns 24,873 shares of the electronics maker's stock worth $1,308,000 after acquiring an additional 1,188 shares during the last quarter. NovaPoint Capital LLC increased its holdings in Corning by 6.2% in the 2nd quarter. NovaPoint Capital LLC now owns 82,462 shares of the electronics maker's stock worth $4,337,000 after acquiring an additional 4,780 shares during the last quarter. ST Germain D J Co. Inc. increased its holdings in Corning by 2.8% in the 2nd quarter. ST Germain D J Co. Inc. now owns 170,490 shares of the electronics maker's stock worth $8,966,000 after acquiring an additional 4,702 shares during the last quarter. Evergreen Private Wealth LLC increased its holdings in Corning by 37.7% in the 2nd quarter. Evergreen Private Wealth LLC now owns 1,852 shares of the electronics maker's stock worth $97,000 after acquiring an additional 507 shares during the last quarter. Finally, Patron Partners LLC increased its holdings in Corning by 2.9% in the 2nd quarter. Patron Partners LLC now owns 16,803 shares of the electronics maker's stock worth $884,000 after acquiring an additional 472 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corning

In other news, CEO Wendell P. Weeks sold 82,103 shares of the business's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the transaction, the chief executive officer owned 809,295 shares of the company's stock, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michael Paul O'day sold 14,879 shares of the business's stock in a transaction dated Wednesday, July 30th. The stock was 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 of the company's stock, valued at $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 valued at $11,816,899 in the last ninety days. Insiders own 0.40% of the company's stock.

Corning Stock Up 0.3%

Shares of NYSE GLW opened at $79.33 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $81.58. The business has a 50-day simple moving average of $68.01 and a two-hundred day simple moving average of $54.67. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The company has a market cap of $67.96 billion, a P/E ratio of 84.39, a P/E/G ratio of 1.77 and a beta of 1.09.

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. JPMorgan Chase & Co. lifted their price objective on Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. Citigroup lifted their price objective on Corning from $72.00 to $93.00 and gave the stock a "buy" rating in a report on Wednesday. Barclays lifted their price objective on Corning from $52.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Morgan Stanley set a $56.00 price objective on Corning and gave the stock an "equal weight" rating in a report on Wednesday, July 30th. Finally, UBS Group raised their target price on Corning from $84.00 to $91.00 and gave the stock a "buy" rating in a research note on Tuesday. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $70.08.

Corning Company Profile

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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