Pinnacle Financial Partners Inc Grows Position in Corning Incorporated $GLW

Pinnacle Financial Partners Inc boosted its position in Corning Incorporated (NYSE:GLW) by 18.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 95,504 shares of the electronics maker’s stock after acquiring an additional 14,719 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Corning were worth $7,834,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after purchasing an additional 1,582,895 shares in the last quarter. State Street Corp raised its stake in Corning by 1.4% in the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after buying an additional 509,013 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Corning by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock worth $1,018,629,000 after buying an additional 112,739 shares during the last quarter. Ameriprise Financial Inc. boosted its position in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after acquiring an additional 1,036,988 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Corning during the 2nd quarter worth about $534,936,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Stock Performance

Shares of Corning stock opened at $94.31 on Friday. The firm’s fifty day simple moving average is $86.87 and its 200-day simple moving average is $76.97. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $96.64. The stock has a market capitalization of $80.86 billion, a price-to-earnings ratio of 59.69, a PEG ratio of 1.16 and a beta of 1.13. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The company had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. Corning’s revenue for the quarter was up 20.9% on a year-over-year basis. During the same period last year, the firm posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, equities analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Monday, December 29th. Susquehanna raised their price objective on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. Argus upped their target price on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a report on Wednesday, October 29th. Barclays increased their target price on shares of Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 29th. Finally, Oppenheimer set a $100.00 price target on shares of Corning and gave the company an “outperform” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $93.36.

Insider Buying and Selling

In other Corning news, insider Eric S. Musser sold 100,000 shares of Corning stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $90.17, for a total value of $9,017,000.00. Following the transaction, the insider directly owned 44,926 shares in the company, valued at approximately $4,050,977.42. This trade represents a 69.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, SVP Stefan Becker sold 12,100 shares of the business’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $91.28, for a total value of $1,104,488.00. Following the completion of the transaction, the senior vice president directly owned 5,049 shares in the company, valued at approximately $460,872.72. The trade was a 70.56% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 156,135 shares of company stock worth $14,088,769. Insiders own 0.40% of the company’s stock.

Corning Company 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.