Forvis Mazars Wealth Advisors LLC Raises Stock Holdings in Corning Incorporated $GLW

Forvis Mazars Wealth Advisors LLC raised its position in shares of Corning Incorporated (NYSE:GLW) by 3.8% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 17,729 shares of the electronics maker’s stock after acquiring an additional 655 shares during the quarter. Forvis Mazars Wealth Advisors LLC’s holdings in Corning were worth $932,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in GLW. Amundi raised its holdings in shares of Corning by 64.3% during the first quarter. Amundi now owns 6,408,605 shares of the electronics maker’s stock valued at $271,237,000 after acquiring an additional 2,507,797 shares during the last quarter. Nuveen LLC acquired a new position in shares of Corning during the first quarter valued at approximately $104,789,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Corning during the second quarter valued at approximately $92,560,000. Robeco Institutional Asset Management B.V. raised its holdings in shares of Corning by 185.7% during the second quarter. Robeco Institutional Asset Management B.V. now owns 1,801,411 shares of the electronics maker’s stock valued at $94,736,000 after acquiring an additional 1,170,992 shares during the last quarter. Finally, Deutsche Bank AG raised its holdings in shares of Corning by 37.1% during the first quarter. Deutsche Bank AG now owns 3,835,799 shares of the electronics maker’s stock valued at $175,603,000 after acquiring an additional 1,037,875 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently commented on GLW shares. JPMorgan Chase & Co. increased their price target on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Corning in a report on Wednesday, October 8th. UBS Group increased their price target on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. Wolfe Research started coverage on Corning in a report on Tuesday, July 8th. They issued an “outperform” rating for the company. Finally, Susquehanna reaffirmed a “positive” rating and issued a $75.00 price target (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. One equities research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 82,103 shares of the firm’s stock in a transaction on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the completion of the transaction, the chief executive officer directly owned 809,295 shares in the company, valued at $52,757,941.05. This trade represents a 9.21% decrease in their ownership of the stock. The transaction 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 firm’s stock in a transaction on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the transaction, the executive vice president owned 39,759 shares of the company’s stock, valued at approximately $2,473,804.98. This represents a 29.51% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 181,671 shares of company stock valued at $11,816,899. Corporate insiders own 0.32% of the company’s stock.

Corning Trading Down 2.6%

Shares of Corning stock opened at $84.49 on Monday. The firm has a market capitalization of $72.38 billion, a price-to-earnings ratio of 89.88, a PEG ratio of 1.89 and a beta of 1.14. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $87.78. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.93 and a current ratio of 1.50. The stock has a 50 day moving average of $75.33 and a 200 day moving average of $58.73.

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, topping the consensus estimate of $0.57 by $0.03. The company had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. Corning had a return on equity of 17.27% and a net margin of 5.77%.During the same period in the prior year, the business 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 earnings per share for the current year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date is Friday, November 14th. Corning’s dividend payout ratio (DPR) is currently 119.15%.

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.