Corning Incorporated $GLW Shares Acquired by Spire Wealth Management

Spire Wealth Management increased its holdings in shares of Corning Incorporated (NYSE:GLW) by 90.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 20,738 shares of the electronics maker’s stock after purchasing an additional 9,841 shares during the quarter. Spire Wealth Management’s holdings in Corning were worth $1,701,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its holdings in shares of Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after buying an additional 1,582,895 shares in the last quarter. State Street Corp lifted its position in Corning by 1.4% in the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after acquiring an additional 509,013 shares during the last quarter. Geode Capital Management LLC boosted its stake in Corning by 0.6% in the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after acquiring an additional 112,739 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares during the last quarter. Finally, Norges Bank acquired a new stake in shares of Corning during the second quarter worth about $534,936,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently issued reports on GLW. Susquehanna upped their target price on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a research report on Wednesday, October 29th. UBS Group reissued a “buy” rating and issued a $109.00 price objective (up from $100.00) on shares of Corning in a report on Friday, November 21st. Mizuho set a $97.00 target price on shares of Corning in a research report on Wednesday, October 29th. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, Argus raised their price objective on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $93.09.

Insider Activity at Corning

In other Corning news, CFO Edward A. Schlesinger sold 20,893 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $91.25, for a total value of $1,906,486.25. Following the completion of the transaction, the chief financial officer directly owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This trade represents a 23.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the sale, the executive vice president owned 17,575 shares of the company’s stock, valued at approximately $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 156,135 shares of company stock worth $14,088,769 over the last three months. 0.40% of the stock is currently owned by company insiders.

Corning Stock Down 0.1%

GLW opened at $85.23 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $96.64. The stock has a market capitalization of $73.07 billion, a P/E ratio of 53.94, a P/E/G ratio of 1.56 and a beta of 1.13. The business has a 50 day simple moving average of $86.42 and a 200-day simple moving average of $75.44.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The firm had revenue of $4.10 billion during the quarter, compared to analysts’ expectations of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.Corning’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.54 earnings per share. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, equities analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Profile

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.