Midwest Trust Co Has $20.55 Million Stock Holdings in Corning Incorporated $GLW

Midwest Trust Co trimmed its holdings in shares of Corning Incorporated (NYSE:GLW) by 1.5% in the third quarter, according to its most recent filing with the SEC. The firm owned 250,507 shares of the electronics maker’s stock after selling 3,942 shares during the period. Midwest Trust Co’s holdings in Corning were worth $20,549,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in GLW. Vanguard Group Inc. lifted its stake in Corning by 1.6% during the second quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock worth $5,151,301,000 after purchasing an additional 1,582,895 shares during the period. State Street Corp grew its stake in shares of Corning by 1.4% in the 2nd quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after purchasing an additional 509,013 shares during the period. Geode Capital Management LLC raised its holdings in shares of Corning by 0.6% in 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 in the last quarter. Ameriprise Financial Inc. lifted 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 buying an additional 1,036,988 shares during the period. Finally, Norges Bank acquired a new stake in Corning in the 2nd quarter valued at $534,936,000. Institutional investors own 69.80% of the company’s stock.

Corning Price Performance

Shares of GLW 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 has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The firm’s 50 day moving average is $93.92 and its 200-day moving average is $82.97. The firm has a market capitalization of $112.62 billion, a price-to-earnings ratio of 71.39, a PEG ratio of 2.12 and a beta of 1.13.

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. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. During the same quarter last year, the business posted $0.57 earnings per share. Corning’s revenue for the quarter was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Sell-side analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

GLW has been the subject of several recent analyst reports. Barclays set a $100.00 price objective on Corning in a research note on Thursday, January 29th. Fox Advisors lowered shares of Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Morgan Stanley increased their target price on shares of Corning from $98.00 to $103.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 29th. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Finally, Wolfe Research set a $130.00 price objective on shares of Corning and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Nine research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average target price of $112.36.

Insider Activity

In related news, insider Eric S. Musser sold 15,000 shares of Corning stock in a transaction dated Monday, February 9th. The stock was sold at an average price of $130.25, for a total value of $1,953,750.00. Following the completion of the sale, the insider directly owned 4,926 shares in the company, valued at $641,611.50. This trade represents a 75.28% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Edward A. Schlesinger sold 21,104 shares of the business’s stock in a transaction dated Thursday, January 29th. The stock was sold at an average price of $104.55, for a total value of $2,206,423.20. Following the sale, the chief financial officer directly owned 54,780 shares of the company’s stock, valued at $5,727,249. This represents a 27.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 70,945 shares of company stock valued at $8,026,736. Company insiders own 0.32% of the company’s stock.

About Corning

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.