First Merchants Corp Has $401,000 Stock Holdings in Corning Incorporated $GLW

First Merchants Corp lessened its stake in shares of Corning Incorporated (NYSE:GLW) by 6.4% in the second quarter, according to the company in its most recent filing with the SEC. The fund owned 7,632 shares of the electronics maker’s stock after selling 521 shares during the quarter. First Merchants Corp’s holdings in Corning were worth $401,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of GLW. Brighton Jones LLC lifted its stake in shares of Corning by 46.0% during the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after buying an additional 2,114 shares during the last quarter. UMB Bank n.a. lifted its stake in shares of Corning by 10.1% during the 1st quarter. UMB Bank n.a. now owns 5,024 shares of the electronics maker’s stock worth $230,000 after buying an additional 461 shares during the last quarter. Wedmont Private Capital lifted its stake in shares of Corning by 21.0% during the 1st quarter. Wedmont Private Capital now owns 5,389 shares of the electronics maker’s stock worth $247,000 after buying an additional 935 shares during the last quarter. Pallas Capital Advisors LLC acquired a new stake in shares of Corning during the 1st quarter worth about $286,000. Finally, Wealthcare Advisory Partners LLC lifted its stake in shares of Corning by 2.3% during the 1st quarter. Wealthcare Advisory Partners LLC now owns 34,812 shares of the electronics maker’s stock worth $1,594,000 after buying an additional 785 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Ratings Changes

GLW has been the subject of several analyst reports. Morgan Stanley set a $56.00 price objective on shares of Corning and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Citigroup lifted their price objective on shares of Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Argus reiterated a “buy” rating and issued a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. Mizuho lifted their price objective on shares of Corning from $74.00 to $90.00 and gave the stock an “outperform” rating in a research note on Friday, October 3rd. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of Corning in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $71.42.

Corning Price Performance

GLW stock opened at $87.24 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $87.75. The firm has a market cap of $74.73 billion, a P/E ratio of 92.81, a P/E/G ratio of 1.94 and a beta of 1.14. The company’s 50-day moving average price is $72.77 and its two-hundred day moving average price is $56.94.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, beating the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion for the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of Corning stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the sale, the chief executive officer directly owned 809,295 shares of the company’s stock, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michael Paul O’day sold 14,879 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president directly owned 35,743 shares in the company, valued at $2,228,933.48. This trade represents a 29.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 181,671 shares of company stock worth $11,816,899 in the last ninety days. Insiders own 0.40% of the company’s stock.

About Corning

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.