Independent Solutions Wealth Management LLC Lowers Position in Corning Incorporated $GLW

Independent Solutions Wealth Management LLC decreased its position in Corning Incorporated (NYSE:GLW) by 2.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 7,023 shares of the electronics maker’s stock after selling 195 shares during the period. Independent Solutions Wealth Management LLC’s holdings in Corning were worth $369,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in GLW. Davis Investment Partners LLC acquired a new stake in shares of Corning in the second quarter valued at about $251,000. Central Pacific Bank Trust Division lifted its position in shares of Corning by 23.6% during the 2nd quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock valued at $3,838,000 after acquiring an additional 13,920 shares during the period. Strs Ohio acquired a new stake in shares of Corning during the 1st quarter valued at approximately $27,219,000. Acadian Asset Management LLC lifted its position in shares of Corning by 4,346.5% during the 1st quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock valued at $7,048,000 after acquiring an additional 150,521 shares during the period. Finally, Intech Investment Management LLC lifted its position in shares of Corning by 507.6% during the 1st quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock valued at $9,665,000 after acquiring an additional 176,379 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In related news, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the transaction, the chief operating officer owned 64,838 shares of the company’s stock, valued at approximately $4,036,813.88. This represents a 35.85% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of the company’s stock in a transaction that occurred on 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 transaction, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. The trade was a 29.51% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 181,671 shares of company stock valued at $11,816,899. 0.32% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Susquehanna reiterated a “positive” rating and set a $75.00 price target (up from $60.00) on shares of Corning in a research report on Wednesday, July 30th. Mizuho lifted their price target on shares of Corning from $74.00 to $90.00 and gave the company an “outperform” rating in a research report on Friday. Morgan Stanley set a $56.00 price target on shares of Corning and gave the company an “equal weight” rating in a research report on Wednesday, July 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research report on Saturday, September 27th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research report on Friday, July 25th. 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 stock. Based on data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $71.42.

Corning Stock Performance

Shares of GLW opened at $85.08 on Wednesday. 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 stock has a market cap of $72.88 billion, a P/E ratio of 90.51, a PEG ratio of 1.90 and a beta of 1.14. The company has a 50-day moving average of $71.80 and a two-hundred day moving average of $56.47. Corning Incorporated has a 12-month low of $37.31 and a 12-month high of $86.23.

Corning (NYSE:GLW) last announced 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. The business had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter in the prior year, the firm posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, research analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

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.