Founders Capital Management Grows Stock Position in Corning Incorporated $GLW

Founders Capital Management grew its position in shares of Corning Incorporated (NYSE:GLW) by 0.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 147,650 shares of the electronics maker’s stock after purchasing an additional 261 shares during the quarter. Corning makes up 4.7% of Founders Capital Management’s holdings, making the stock its 7th biggest holding. Founders Capital Management’s holdings in Corning were worth $7,765,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Trilogy Capital Inc. boosted its stake in shares of Corning by 11.0% during the second quarter. Trilogy Capital Inc. now owns 6,251 shares of the electronics maker’s stock valued at $329,000 after purchasing an additional 621 shares in the last quarter. Trust Co. of Vermont boosted its stake in shares of Corning by 12.1% during the second quarter. Trust Co. of Vermont now owns 10,215 shares of the electronics maker’s stock valued at $537,000 after purchasing an additional 1,100 shares in the last quarter. Forbes J M & Co. LLP acquired a new stake in shares of Corning during the second quarter valued at about $203,000. Columbia Asset Management boosted its stake in shares of Corning by 6.1% during the second quarter. Columbia Asset Management now owns 43,531 shares of the electronics maker’s stock valued at $2,289,000 after purchasing an additional 2,500 shares in the last quarter. Finally, Elwood & Goetz Wealth Advisory Group LLC acquired a new stake in shares of Corning during the second quarter valued at about $207,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on GLW shares. Argus reaffirmed a “buy” rating and issued a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. UBS Group lifted their price objective on Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. JPMorgan Chase & Co. lifted their price objective on Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. Morgan Stanley set a $56.00 price objective on Corning and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Finally, Wolfe Research started coverage on Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.08.

Corning Trading Up 2.3%

NYSE GLW opened at $82.13 on Wednesday. The business has a 50 day moving average price of $69.09 and a 200-day moving average price of $55.23. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $82.21. The company has a market cap of $70.35 billion, a price-to-earnings ratio of 87.37, a P/E/G ratio of 1.79 and a beta of 1.09. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share 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 for the quarter, compared to analysts’ expectations of $3.84 billion. During the same period last year, the business earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, equities analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Michael Paul O’day sold 14,879 shares of the stock in a transaction 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 owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Wendell P. Weeks sold 82,103 shares of Corning stock in a transaction dated Thursday, August 7th. The shares were sold at an average price of $65.19, for a total value of $5,352,294.57. Following the transaction, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at $52,757,941.05. The trade was a 9.21% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,671 shares of company stock worth $11,816,899. Corporate insiders own 0.32% of the company’s stock.

Corning 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.