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

Midwest Trust Co cut its position in Corning Incorporated (NYSE:GLW) by 16.1% in the first quarter, HoldingsChannel.com reports. The firm 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 at the end of the most recent reporting period.

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

More Corning News

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

Corning Price Performance

Shares of NYSE:GLW traded down $1.26 during mid-day trading on Friday, reaching $191.12. The stock had a trading volume of 5,343,797 shares, compared to its average volume of 16,352,928. The business’s 50 day moving average price is $193.19 and its 200 day moving average price is $149.96. Corning Incorporated has a 1 year low of $51.32 and a 1 year high of $271.78. The company has a market cap of $164.49 billion, a P/E ratio of 91.45, a price-to-earnings-growth ratio of 2.50 and a beta of 1.09. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

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

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Buying and Selling

In related news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This trade represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last three months. Corporate insiders own 0.25% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the topic of a number of research analyst reports. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Oppenheimer increased their price objective on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Finally, UBS Group set a $243.00 target price on shares of Corning in a research report on Monday, July 6th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average price target of $193.54.

About Corning

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.