Midwest Trust Co Sells 31,850 Shares of Corning Incorporated $GLW

Midwest Trust Co decreased its position in shares of Corning Incorporated (NYSE:GLW) by 16.1% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 165,828 shares of the electronics maker’s stock after selling 31,850 shares during the quarter. Midwest Trust Co’s holdings in Corning were worth $22,548,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC raised its position in Corning by 16.9% in the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after buying an additional 6,493 shares during the last quarter. Security National Bank boosted its holdings in shares of Corning by 340.4% during the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after acquiring an additional 56,056 shares during the last quarter. Three Seasons Wealth LLC purchased a new stake in shares of Corning during the 4th quarter valued at about $1,750,000. RiverFront Investment Group LLC grew its stake in shares of Corning by 65.4% in the fourth quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker’s stock worth $1,289,000 after acquiring an additional 5,818 shares during the period. Finally, North Dakota State Investment Board purchased a new position in shares of Corning during the fourth quarter valued at approximately $2,345,000. Institutional investors own 69.80% of the company’s stock.

Corning News Summary

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning landed a major multibillion-dollar agreement with Amazon to expand U.S. optical fiber production for AI data centers, and it is also partnering with Nvidia to grow domestic manufacturing capacity for advanced optical solutions. The deals reinforce Corning’s position as a key supplier in AI infrastructure. Corning (GLW) Lands Amazon Deal And Nvidia Tie Up For AI Fiber Expansion
• Positive Sentiment: Recent bullish commentary says Corning’s fundamentals remain strong, citing 18% core sales growth and 30% core EPS growth in Q1, along with momentum in Optical Communications and its Solar segment. Analysts are pointing to AI-driven fiber demand as a potential catalyst for further earnings growth. Corning: AI Partnerships Mounting, Making The 30% Plunge Buyable
• Neutral Sentiment: Market-moving articles from Barron’s also flagged Corning as one of the notable stocks in the day’s AI-driven market move, reflecting renewed investor attention rather than a company-specific earnings surprise. Stock movers article
• Neutral Sentiment: One bearish note argues that Corning may not be cheap enough after the recent pullback, suggesting valuation remains a concern even with improving growth prospects. Corning: 30 Percent Cheaper Is Not Good Enough
• Negative Sentiment: Another valuation-focused article describes Corning as having “strong fundamentals” but an “unverifiable multiple,” reinforcing concerns that the stock’s premium could limit upside if AI growth fails to accelerate further. Corning: Strong Fundamentals Wrapped In An Unverifiable Multiple

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on GLW. Citigroup increased their price objective on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. Barclays lifted their target price on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Mizuho increased their price target on Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Truist Financial raised their price target on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Finally, JPMorgan Chase & Co. raised their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $193.54.

Corning Stock Performance

Shares of GLW traded down $1.26 on Friday, reaching $191.12. The company’s stock had a trading volume of 5,343,797 shares, compared to its average volume of 16,352,928. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock has a market capitalization of $164.49 billion, a P/E ratio of 91.45, a PEG ratio of 2.50 and a beta of 1.09. The stock’s 50 day simple moving average is $193.19 and its two-hundred day simple moving average is $149.96. Corning Incorporated has a 12-month low of $51.32 and a 12-month high of $271.78.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the prior year, the company earned $0.54 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is 53.59%.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 over the last three months. 0.25% of the stock is currently owned by insiders.

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.