Gabelli Funds LLC Lowers Stock Position in Corning Incorporated $GLW

Gabelli Funds LLC cut its stake in shares of Corning Incorporated (NYSE:GLW) by 10.9% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 287,699 shares of the electronics maker’s stock after selling 35,149 shares during the period. Gabelli Funds LLC’s holdings in Corning were worth $25,191,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its stake in shares of Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after buying an additional 580,678 shares during the period. State Street Corp grew its stake in shares of Corning by 1.2% during the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after buying an additional 439,883 shares during the period. Wellington Management Group LLP grew its stake in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after buying an additional 3,848,540 shares during the period. Ameriprise Financial Inc. grew its stake in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares during the period. Finally, Capital Research Global Investors purchased a new stake in shares of Corning during the 3rd quarter valued at $907,164,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of the business’s stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the transaction, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. This represents a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 170,774 shares of company stock worth $28,148,435. 0.25% of the stock is owned by corporate insiders.

Corning Stock Down 6.8%

Shares of Corning stock opened at $178.74 on Tuesday. The company has a fifty day moving average price of $157.10 and a 200 day moving average price of $120.55. 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 Incorporated has a twelve month low of $47.40 and a twelve month high of $211.79. The stock has a market cap of $153.83 billion, a price-to-earnings ratio of 85.52, a price-to-earnings-growth ratio of 2.74 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter in the previous year, the business posted $0.54 EPS. The firm’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. Corning’s payout ratio is currently 53.59%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on the stock. UBS Group upped their price target on shares of Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wolfe Research set a $130.00 price target on shares of Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Fox Advisors cut shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Bank of America upped their price target on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Finally, JPMorgan Chase & Co. upped their price target on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus target price of $177.92.

Corning Company 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.