Corning Incorporated $GLW Position Decreased by Kwmg LLC

Kwmg LLC trimmed its position in shares of Corning Incorporated (NYSE:GLW) by 3.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 107,103 shares of the electronics maker’s stock after selling 4,385 shares during the quarter. Corning accounts for approximately 1.2% of Kwmg LLC’s portfolio, making the stock its 29th largest holding. Kwmg LLC’s holdings in Corning were worth $16,468,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the company. Bank of New York Mellon Corp purchased a new stake in Corning in the 2nd quarter valued at approximately $1,510,911,000. State Street Corp raised its stake in shares of Corning by 13.4% during the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after buying an additional 4,845,027 shares in the last quarter. Legal & General Group Plc acquired a new stake in shares of Corning in the 2nd quarter valued at approximately $1,212,283,000. Wellington Management Group LLP boosted its stake in shares of Corning by 50.9% in the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after buying an additional 4,446,514 shares in the last quarter. Finally, Bank of America Corp DE boosted its stake in shares of Corning by 29.2% in the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after buying an additional 4,231,507 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

Corning stock traded down $3.65 during trading hours on Wednesday, hitting $165.32. The stock had a trading volume of 2,970,482 shares, compared to its average volume of 12,075,973. Corning Incorporated has a 1-year low of $77.39 and a 1-year high of $271.78. The stock has a market capitalization of $142.41 billion, a price-to-earnings ratio of 75.45, a PEG ratio of 2.03 and a beta of 1.13. The stock’s fifty day moving average is $154.28 and its two-hundred day moving average is $168.23. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

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 the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the previous year, the company posted $0.60 EPS. The business’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts predict that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Insiders Place Their Bets

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

Wall Street Analyst Weigh In

GLW has been the subject of several research analyst reports. Truist Financial increased their price objective on Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Barclays decreased their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Citigroup cut their price target on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a report on Wednesday, July 29th. The Goldman Sachs Group reiterated an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. Finally, Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a research report on Monday, August 24th. Twelve investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $174.87.

Corning 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.