Fortitude Advisory Group L.L.C. Acquires Shares of 4,124 Corning Incorporated $GLW

Fortitude Advisory Group L.L.C. purchased a new position in Corning Incorporated (NYSE:GLW) during the second quarter, HoldingsChannel.com reports. The fund purchased 4,124 shares of the electronics maker’s stock, valued at approximately $217,000.

A number of other large investors also recently modified their holdings of the business. Forte Capital LLC ADV lifted its position in shares of Corning by 2.4% in the 2nd quarter. Forte Capital LLC ADV now owns 7,973 shares of the electronics maker’s stock worth $419,000 after buying an additional 190 shares during the last quarter. Smith Salley Wealth Management lifted its position in shares of Corning by 3.3% in the 2nd quarter. Smith Salley Wealth Management now owns 6,280 shares of the electronics maker’s stock worth $330,000 after buying an additional 200 shares during the last quarter. Leigh Baldwin & CO. LLC lifted its position in shares of Corning by 1.7% in the 1st quarter. Leigh Baldwin & CO. LLC now owns 12,513 shares of the electronics maker’s stock worth $573,000 after buying an additional 210 shares during the last quarter. Old North State Wealth Management LLC lifted its position in shares of Corning by 0.5% in the 2nd quarter. Old North State Wealth Management LLC now owns 40,325 shares of the electronics maker’s stock worth $2,121,000 after buying an additional 218 shares during the last quarter. Finally, Harbour Investments Inc. lifted its position in shares of Corning by 2.4% in the 1st quarter. Harbour Investments Inc. now owns 9,489 shares of the electronics maker’s stock worth $434,000 after buying an additional 224 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

GLW has been the topic of a number of recent research reports. Morgan Stanley set a $56.00 price target on shares of Corning and gave the stock an “equal weight” rating in a research report on Wednesday, July 30th. Susquehanna restated a “positive” rating and issued a $75.00 price target (up from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. Mizuho increased their price objective on shares of Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 price objective (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $71.42.

Corning Stock Up 1.3%

GLW stock opened at $83.60 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $84.35. The company has a market capitalization of $71.62 billion, a price-to-earnings ratio of 88.94, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14. The firm’s 50-day moving average is $70.74 and its two-hundred day moving average is $55.96. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The company had revenue of $3.86 billion for the quarter, compared to the consensus estimate 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. On average, analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Insider Activity at Corning

In other Corning news, EVP Lewis A. Steverson sold 16,646 shares of the business’s stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the sale, the executive vice president directly owned 39,759 shares in the company, valued at approximately $2,473,804.98. The trade was a 29.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaymin Amin sold 17,721 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares in the company, valued at $6,847,563.96. This trade represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 181,671 shares of company stock worth $11,816,899 in the last three months. Insiders own 0.40% of the company’s stock.

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.