Corning Incorporated $GLW Shares Sold by Hanson & Doremus Investment Management

Hanson & Doremus Investment Management reduced its position in shares of Corning Incorporated (NYSE:GLW) by 7.7% during the second quarter, Holdings Channel.com reports. The fund owned 143,761 shares of the electronics maker’s stock after selling 11,986 shares during the quarter. Corning accounts for approximately 1.0% of Hanson & Doremus Investment Management’s investment portfolio, making the stock its 17th largest position. Hanson & Doremus Investment Management’s holdings in Corning were worth $7,560,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Davis Investment Partners LLC acquired a new position in Corning during the second quarter worth about $251,000. Central Pacific Bank Trust Division grew its holdings in Corning by 23.6% during the second quarter. Central Pacific Bank Trust Division now owns 72,982 shares of the electronics maker’s stock worth $3,838,000 after acquiring an additional 13,920 shares during the period. Strs Ohio acquired a new position in Corning during the first quarter worth about $27,219,000. Acadian Asset Management LLC grew its holdings in Corning by 4,346.5% during the first quarter. Acadian Asset Management LLC now owns 153,984 shares of the electronics maker’s stock worth $7,048,000 after acquiring an additional 150,521 shares during the period. Finally, Intech Investment Management LLC grew its holdings in Corning by 507.6% during the first quarter. Intech Investment Management LLC now owns 211,124 shares of the electronics maker’s stock worth $9,665,000 after acquiring an additional 176,379 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on GLW shares. Barclays lifted their price target on Corning from $52.00 to $65.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 30th. Wolfe Research started coverage on Corning in a research note on Tuesday, July 8th. They issued an “outperform” rating on the stock. Wall Street Zen cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Mizuho lifted their price target on Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Finally, UBS Group lifted their price target on Corning from $84.00 to $91.00 and gave the stock a “buy” rating in a research note on Tuesday, September 23rd. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $70.08.

Corning Trading Up 0.3%

Shares of NYSE GLW opened at $79.33 on Monday. Corning Incorporated has a one year low of $37.31 and a one year high of $81.58. The firm has a market capitalization of $67.96 billion, a PE ratio of 84.39, a PEG ratio of 1.77 and a beta of 1.09. The company has a current ratio of 1.50, a quick ratio of 0.93 and a debt-to-equity ratio of 0.58. The business has a 50-day moving average price of $68.01 and a two-hundred day moving average price of $54.80.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.03. Corning had a return on equity of 17.27% and a net margin of 5.77%.The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. During the same period last year, the company posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, analysts predict that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Insider Activity

In other news, EVP Lewis A. Steverson sold 16,646 shares of Corning stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total transaction of $1,035,714.12. Following the completion of the sale, the executive vice president directly owned 39,759 shares in the company, valued at $2,473,804.98. The trade was a 29.51% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Jaymin Amin sold 17,721 shares of Corning stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares of the company’s stock, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 181,671 shares of company stock worth $11,816,899. Corporate insiders own 0.32% of the company’s stock.

Corning Profile

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.