Corning Incorporated $GLW Position Lowered by Kwmg LLC

Kwmg LLC trimmed its position in Corning Incorporated (NYSE:GLW) by 3.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 107,103 shares of the electronics maker’s stock after selling 4,385 shares during the quarter. Corning makes up 1.2% of Kwmg LLC’s investment portfolio, making the stock its 29th largest position. Kwmg LLC’s holdings in Corning were worth $16,468,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of GLW. Lake Hills Wealth Management LLC purchased a new stake in Corning during the 3rd quarter worth about $483,000. Nautilus Advisors LLC lifted its stake in Corning by 4.4% during the third quarter. Nautilus Advisors LLC now owns 6,070 shares of the electronics maker’s stock worth $933,000 after purchasing an additional 255 shares during the last quarter. Byrne Asset Management LLC boosted its holdings in Corning by 1.2% in the third quarter. Byrne Asset Management LLC now owns 18,233 shares of the electronics maker’s stock valued at $2,925,000 after purchasing an additional 214 shares in the last quarter. Legacy Private Trust Co. raised its holdings in Corning by 7.4% during the third quarter. Legacy Private Trust Co. now owns 17,108 shares of the electronics maker’s stock worth $2,631,000 after purchasing an additional 1,183 shares in the last quarter. Finally, Rosenberg Matthew Hamilton lifted its position in shares of Corning by 97.6% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 1,476 shares of the electronics maker’s stock worth $227,000 after buying an additional 729 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Corning Stock Performance

NYSE GLW traded down $3.65 during trading on Wednesday, reaching $165.32. The company’s stock had a trading volume of 2,970,482 shares, compared to its average volume of 12,075,973. The business’s fifty day moving average price is $154.28 and its 200-day moving average price is $168.23. Corning Incorporated has a twelve month low of $77.39 and a twelve month high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The firm has a market cap of $142.41 billion, a price-to-earnings ratio of 75.45, a P/E/G ratio of 2.03 and a beta of 1.13.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts anticipate that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Analysts Set New Price Targets

GLW has been the topic of a number of recent analyst reports. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Oppenheimer cut their target price on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Truist Financial upped their target price on Corning from $175.00 to $182.00 and gave the company a “buy” rating in a research report on Friday, October 2nd. Finally, Morgan Stanley dropped their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Twelve research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $174.87.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.