ZWJ Investment Counsel Inc. Reduces Stock Position in Corning Incorporated $GLW

ZWJ Investment Counsel Inc. lessened its position in shares of Corning Incorporated (NYSE:GLW) by 2.5% during the 2nd quarter, Holdings Channel reports. The firm owned 9,395 shares of the electronics maker’s stock after selling 243 shares during the quarter. ZWJ Investment Counsel Inc.’s holdings in Corning were worth $494,000 as of its most recent filing with the SEC.

Several other large investors have also added to or reduced their stakes in the company. Boyar Asset Management Inc. grew its stake in Corning by 3.4% during the 2nd quarter. Boyar Asset Management Inc. now owns 8,792 shares of the electronics maker’s stock valued at $462,000 after purchasing an additional 292 shares during the last quarter. Stock Yards Bank & Trust Co. purchased a new stake in Corning during the 2nd quarter valued at about $203,000. Two Point Capital Management Inc. purchased a new stake in Corning during the 2nd quarter valued at about $3,211,000. Ameritas Advisory Services LLC purchased a new stake in Corning during the 2nd quarter valued at about $127,000. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management grew its stake in Corning by 2.3% during the 2nd quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 137,684 shares of the electronics maker’s stock valued at $7,241,000 after purchasing an additional 3,059 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of GLW stock opened at $83.60 on Friday. The company has a market capitalization of $71.62 billion, a P/E ratio of 88.94, a P/E/G ratio of 1.84 and a beta of 1.14. The business’s 50 day moving average is $70.74 and its two-hundred day moving average is $55.91. The company has a current ratio of 1.50, a quick ratio of 0.93 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 $84.35.

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

Wall Street Analyst Weigh In

A number of brokerages have recently commented on GLW. Oppenheimer restated an “outperform” rating and issued a $72.00 target price (up previously from $55.00) on shares of Corning in a research note on Wednesday, July 30th. Argus restated a “buy” rating and issued a $68.00 target price on shares of Corning in a research note on Wednesday, July 30th. Citigroup upped their target price on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Corning in a research note on Saturday, September 27th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $71.42.

Insider Activity at Corning

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the stock in a transaction that occurred on Wednesday, September 17th. The stock was sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the transaction, the senior vice president owned 88,722 shares in the company, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, EVP Lewis A. Steverson sold 16,646 shares of the stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.22, for a total value of $1,035,714.12. Following the transaction, the executive vice president owned 39,759 shares in the company, valued at $2,473,804.98. This 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 valued at $11,816,899 in the last ninety days. 0.40% of the stock is currently owned by company insiders.

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.