Janney Montgomery Scott LLC Buys 25,484 Shares of Corning Incorporated $GLW

Janney Montgomery Scott LLC lifted its stake in Corning Incorporated (NYSE:GLW) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 473,408 shares of the electronics maker’s stock after buying an additional 25,484 shares during the period. Janney Montgomery Scott LLC owned about 0.06% of Corning worth $24,897,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in GLW. Brighton Jones LLC lifted its stake in shares of Corning by 46.0% in the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares during the period. GAMMA Investing LLC lifted its stake in shares of Corning by 5,814.8% in the first quarter. GAMMA Investing LLC now owns 519,969 shares of the electronics maker’s stock valued at $23,804,000 after buying an additional 511,178 shares during the period. Fifth Third Wealth Advisors LLC bought a new stake in shares of Corning in the first quarter valued at about $230,000. NBC Securities Inc. lifted its stake in shares of Corning by 100,100.0% in the first quarter. NBC Securities Inc. now owns 10,020 shares of the electronics maker’s stock valued at $458,000 after buying an additional 10,010 shares during the period. Finally, Merit Financial Group LLC lifted its stake in Corning by 112.4% during the first quarter. Merit Financial Group LLC now owns 23,169 shares of the electronics maker’s stock worth $1,061,000 after purchasing an additional 12,259 shares during the period. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

NYSE:GLW opened at $83.10 on Thursday. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $83.75. The firm has a 50 day moving average of $69.64 and a 200-day moving average of $55.42. 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 stock has a market capitalization of $71.18 billion, a P/E ratio of 88.40, a price-to-earnings-growth ratio of 1.83 and a beta of 1.14.

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

Insider Transactions at Corning

In related news, SVP Michael Paul O’day sold 14,879 shares of the business’s stock in a transaction that occurred on Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the completion of the transaction, the senior vice president owned 35,743 shares in the company, valued at $2,228,933.48. The trade was a 29.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Lewis A. Steverson sold 16,646 shares of the business’s stock in a transaction that occurred on 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 transaction, the executive vice president owned 39,759 shares of the company’s stock, valued at $2,473,804.98. This trade represents a 29.51% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 181,671 shares of company stock worth $11,816,899 over the last ninety days. 0.40% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have commented on GLW. Citigroup raised their price target 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. Oppenheimer restated an “outperform” rating and set a $72.00 price target (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Mizuho raised their price target on shares of Corning from $63.00 to $74.00 and gave the stock an “outperform” rating in a research note on Friday, August 8th. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, JPMorgan Chase & Co. raised their price target on shares of Corning from $62.00 to $65.00 and gave the stock an “overweight” rating in a research note on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $70.08.

Corning Company 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.