Webster Bank N. A. Has $781,000 Stock Position in Corning Incorporated $GLW

Key Points

• Webster Bank N. A. has reduced its stake in Corning Incorporated by 40.5%, now owning 14,854 shares valued at approximately $781,000.
• Insider sales included COO Avery H. Nelson III and CFO Edward A. Schlesinger, who sold significant percentages of their holdings, totaling over $3 million in share value.
• Corning reported earnings of $0.60 per share for the last quarter, exceeding expectations, and has provided guidance for Q3 2025 EPS in the range of 0.630-0.670.

Webster Bank N. A. decreased its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 40.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,854 shares of the electronics maker's stock after selling 10,100 shares during the period. Webster Bank N. A.'s holdings in Corning were worth $781,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Vermillion Wealth Management Inc. bought a new stake in Corning during the 4th quarter worth about $29,000. Putney Financial Group LLC bought a new stake in Corning during the 4th quarter worth about $30,000. Investment Management Corp VA ADV raised its holdings in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock worth $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in Corning by 90.1% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock worth $34,000 after purchasing an additional 353 shares during the last quarter. Finally, Resources Management Corp CT ADV raised its holdings in Corning by 66.7% during the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock worth $34,000 after purchasing an additional 300 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, COO Avery H. Nelson III sold 36,240 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the transaction, the chief operating officer directly owned 64,838 shares in the company, valued at approximately $4,036,813.88. The trade was a 35.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Edward A. Schlesinger sold 14,082 shares of the company's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.28, for a total value of $877,026.96. Following the transaction, the chief financial officer directly owned 78,316 shares of the company's stock, valued at approximately $4,877,520.48. This trade represents a 15.24% decrease in their position. The disclosure for this sale can be found here. Insiders sold 163,950 shares of company stock worth $10,449,192 in the last three months. 0.32% of the stock is owned by corporate insiders.

Corning Price Performance

Shares of GLW opened at $77.03 on Monday. 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 stock has a 50 day simple moving average of $62.75 and a 200 day simple moving average of $52.52. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $77.87. The firm has a market capitalization of $65.99 billion, a PE ratio of 81.95, a P/E/G ratio of 1.73 and a beta of 1.09.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $3.84 billion. During the same period in the previous year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. Sell-side analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, September 29th. Investors of record on Friday, August 29th will be given a $0.28 dividend. The ex-dividend date is Friday, August 29th. This represents a $1.12 annualized dividend and a dividend yield of 1.5%. Corning's payout ratio is currently 119.15%.

Analyst Ratings Changes

Several analysts have weighed in on GLW shares. Susquehanna reissued a "positive" rating and set a $75.00 price objective (up from $60.00) on shares of Corning in a report on Wednesday, July 30th. Wolfe Research started coverage on Corning in a report on Tuesday, July 8th. They set an "outperform" rating for the company. Mizuho upped their price target on Corning from $63.00 to $74.00 and gave the company an "outperform" rating in a research note on Friday, August 8th. Oppenheimer reaffirmed an "outperform" rating and issued a $72.00 price target (up from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Finally, Wall Street Zen cut Corning from a "strong-buy" rating to a "hold" rating in a research note on Saturday. One investment 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 company's stock. Based on data from MarketBeat, the stock presently 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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