US Bancorp DE Purchases 1,397 Shares of Corning Incorporated $GLW

US Bancorp DE lifted its position in Corning Incorporated (NYSE:GLW) by 0.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 402,234 shares of the electronics maker’s stock after purchasing an additional 1,397 shares during the quarter. US Bancorp DE’s holdings in Corning were worth $21,154,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. REAP Financial Group LLC increased its stake in Corning by 191.5% during the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares during the last quarter. Investment Management Corp VA ADV increased its stake in Corning by 165.9% during the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC increased its stake in Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 353 shares during the last quarter. Resources Management Corp CT ADV increased its stake in Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after acquiring an additional 300 shares during the last quarter. Finally, Gen Wealth Partners Inc increased its stake in Corning by 151.7% during the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after acquiring an additional 455 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the company. Citigroup boosted their price objective on Corning from $72.00 to $93.00 and gave the stock a “buy” rating in a research note on Wednesday, September 24th. Argus reissued a “buy” rating and set a $68.00 price objective on shares of Corning in a research note on Wednesday, July 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Corning in a research note on Wednesday. JPMorgan Chase & Co. boosted their target price on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research report on Friday, July 25th. Finally, Susquehanna restated a “positive” rating and set a $75.00 target price (up previously from $60.00) on shares of Corning in a research report on Wednesday, July 30th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $73.00.

Insider Transactions at Corning

In related news, CEO Wendell P. Weeks sold 82,103 shares of the business’s stock in a transaction that occurred on Thursday, August 7th. The stock was sold at an average price of $65.19, for a total value of $5,352,294.57. Following the completion of the sale, the chief executive officer owned 809,295 shares in the company, valued at approximately $52,757,941.05. The trade was a 9.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 sale, the senior vice president owned 35,743 shares of the company’s stock, valued at $2,228,933.48. The trade was a 29.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock valued at $11,816,899 in the last ninety days. Corporate insiders own 0.40% of the company’s stock.

Corning Stock Down 4.8%

Shares of NYSE:GLW opened at $83.00 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The firm has a market capitalization of $71.10 billion, a PE ratio of 88.30, a price-to-earnings-growth ratio of 1.95 and a beta of 1.14. The business has a 50 day simple moving average of $73.19 and a two-hundred day simple moving average of $57.18. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $87.78.

Corning (NYSE:GLW) last announced its quarterly 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. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates 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 previous year, the business earned $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts predict that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The company 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 $0.28 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s payout ratio is presently 119.15%.

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.