Corning Incorporated $GLW Position Cut by Thurston Springer Miller Herd & Titak Inc.

Thurston Springer Miller Herd & Titak Inc. lowered its position in shares of Corning Incorporated (NYSE:GLW) by 71.8% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,419 shares of the electronics maker’s stock after selling 3,610 shares during the quarter. Thurston Springer Miller Herd & Titak Inc.’s holdings in Corning were worth $218,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Atwood & Palmer Inc. acquired a new position in shares of Corning in the 2nd quarter worth approximately $26,000. Rogco LP bought a new stake in shares of Corning in the 2nd quarter valued at approximately $27,000. Toth Financial Advisory Corp raised its position in shares of Corning by 130.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 98 shares in the last quarter. Cornerstone Financial Management LLC raised its position in shares of Corning by 63.3% during the 2nd quarter. Cornerstone Financial Management LLC now owns 196 shares of the electronics maker’s stock valued at $50,000 after acquiring an additional 76 shares in the last quarter. Finally, First PREMIER Bank bought a new position in Corning during the second quarter worth $51,000. Institutional investors own 69.80% of the company’s stock.

Insider Buying and Selling at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction dated Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president owned 15,052 shares of the company’s stock, valued at $2,277,217.08. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.25% of the stock is currently owned by company insiders.

Corning Stock Performance

Shares of Corning stock traded down $7.67 on Wednesday, reaching $140.87. 4,664,296 shares of the company were exchanged, compared to its average volume of 11,961,807. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company’s 50-day moving average is $155.55 and its two-hundred day moving average is $168.87. The firm has a market cap of $121.34 billion, a price-to-earnings ratio of 64.48, a P/E/G ratio of 1.88 and a beta of 1.13. Corning Incorporated has a 1-year low of $77.39 and a 1-year high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%. The business’s revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, research analysts expect that Corning Incorporated will post 3.28 earnings per share for the current fiscal year.

Corning Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be given a dividend of $0.28 per share. The ex-dividend date is Friday, November 13th. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio is currently 51.14%.

Analysts Set New Price Targets

A number of equities analysts have commented on GLW shares. Barclays decreased their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Weiss Ratings lowered shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Friday, August 21st. Citigroup dropped their target price on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, UBS Group raised their price target on shares of Corning from $196.00 to $201.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Thirteen analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $177.56.

Corning Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.