Corning Incorporated $GLW Position Lessened by Midwest Trust Co

Midwest Trust Co lowered its position in Corning Incorporated (NYSE:GLW) by 1.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 250,507 shares of the electronics maker’s stock after selling 3,942 shares during the quarter. Midwest Trust Co’s holdings in Corning were worth $20,549,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of GLW. Strengthening Families & Communities LLC acquired a new position in Corning in the third quarter worth approximately $27,000. Cornerstone Planning Group LLC lifted its stake in Corning by 58.5% in the third quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after acquiring an additional 124 shares during the last quarter. Financial Management Professionals Inc. grew its position in Corning by 111.1% in the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after acquiring an additional 200 shares in the last quarter. RMG Wealth Management LLC increased its stake in shares of Corning by 125.0% during the 3rd quarter. RMG Wealth Management LLC now owns 450 shares of the electronics maker’s stock worth $38,000 after purchasing an additional 250 shares during the last quarter. Finally, Bayforest Capital Ltd acquired a new position in shares of Corning during the 3rd quarter worth $39,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Corning

In related news, SVP Li Fang sold 9,797 shares of Corning stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total transaction of $1,112,057.47. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Edward A. Schlesinger sold 21,104 shares of the company’s stock in a transaction that occurred on Thursday, January 29th. The shares were sold at an average price of $104.55, for a total value of $2,206,423.20. Following the completion of the transaction, the chief financial officer directly owned 54,780 shares of the company’s stock, valued at approximately $5,727,249. This trade represents a 27.81% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 70,945 shares of company stock worth $8,026,736. Company insiders own 0.32% of the company’s stock.

Corning Trading Up 7.5%

Shares of Corning stock opened at $131.36 on Tuesday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $132.32. The company’s fifty day simple moving average is $93.92 and its 200-day simple moving average is $82.97. The company has a market cap of $112.62 billion, a price-to-earnings ratio of 71.39, a PEG ratio of 2.12 and a beta of 1.13. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the firm earned $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. JPMorgan Chase & Co. increased their target price on shares of Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research report on Wednesday, January 28th. Wolfe Research set a $130.00 price target on Corning and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Morgan Stanley boosted their target price on Corning from $98.00 to $103.00 and gave the stock an “equal weight” rating in a report on Thursday, January 29th. Finally, Susquehanna upped their target price on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Nine analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $112.36.

Corning Profile

Corning Incorporated is a global manufacturer specializing in specialty glass, ceramics and related materials and technologies. Headquartered in Corning, New York, the company supplies engineered materials and components used across multiple industries, including consumer electronics, telecommunications, automotive emissions control, pharmaceutical and life sciences, and industrial and scientific applications. Corning emphasizes materials science and precision manufacturing to develop durable, high-performance glass and ceramic products.

Key product lines include specialty display glass used by television and mobile-device manufacturers, cover glass marketed under well-known trade names for smartphones and tablets, and optical fiber and cable and related hardware for telecommunications networks.