Atlantic Union Bankshares Corp Has $1.62 Million Stake in Corning Incorporated $GLW

Atlantic Union Bankshares Corp lifted its position in shares of Corning Incorporated (NYSE:GLW) by 502.1% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,787 shares of the electronics maker’s stock after purchasing an additional 25,674 shares during the period. Atlantic Union Bankshares Corp’s holdings in Corning were worth $1,619,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in GLW. REAP Financial Group LLC increased its position in Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after buying an additional 339 shares during the period. Investment Management Corp VA ADV grew its stake in shares of Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its stake in shares of Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock valued at $34,000 after acquiring an additional 353 shares in the last quarter. Resources Management Corp CT ADV increased its position 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 period. Finally, Gen Wealth Partners Inc raised its stake in Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after purchasing an additional 455 shares in the last quarter. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, insider Eric S. Musser sold 100,000 shares of Corning stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the sale, the insider directly owned 44,926 shares of the company’s stock, valued at approximately $4,050,977.42. The trade was a 69.00% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $91.25, for a total transaction of $1,906,486.25. Following the transaction, the chief financial officer owned 66,959 shares of the company’s stock, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 173,856 shares of company stock worth $15,456,476 in the last quarter. Corporate insiders own 0.40% of the company’s stock.

Analyst Upgrades and Downgrades

GLW has been the topic of several recent research reports. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Saturday, September 13th. UBS Group raised their price objective on Corning from $91.00 to $100.00 and gave the stock a “buy” rating in a research note on Wednesday, October 29th. Mizuho set a $97.00 price objective on Corning in a report on Wednesday, October 29th. Argus increased their target price on Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a report on Wednesday, October 29th. Finally, Oppenheimer set a $100.00 price target on Corning and gave the stock an “outperform” rating in a research report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $90.82.

Corning Trading Down 2.8%

Shares of GLW stock opened at $85.40 on Friday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $92.57. The stock’s fifty day moving average price is $81.68 and its two-hundred day moving average price is $63.42. The company has a debt-to-equity ratio of 0.62, a quick ratio of 0.93 and a current ratio of 1.56. The company has a market cap of $73.22 billion, a PE ratio of 54.05, a P/E/G ratio of 1.99 and a beta of 1.15.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. Corning had a return on equity of 18.12% and a net margin of 9.16%.The company had revenue of $4.27 billion during the quarter, compared to analysts’ expectations of $4.24 billion. During the same quarter in the previous year, the firm earned $0.54 EPS. Corning’s revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Equities analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Stockholders of record on Friday, November 14th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.3%. Corning’s dividend payout ratio is 70.89%.

Corning 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.