Gamco Investors INC. ET AL Sells 9,623 Shares of Corning Incorporated $GLW

Gamco Investors INC. ET AL cut its position in shares of Corning Incorporated (NYSE:GLW) by 4.8% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 192,594 shares of the electronics maker’s stock after selling 9,623 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Corning were worth $16,864,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Merit Financial Group LLC boosted its position in shares of Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 6,493 shares in the last quarter. Lansforsakringar Fondforvaltning AB publ boosted its position in shares of Corning by 4.9% during the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after purchasing an additional 12,297 shares in the last quarter. Security National Bank boosted its position in shares of Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after purchasing an additional 56,056 shares in the last quarter. Three Seasons Wealth LLC bought a new stake in shares of Corning during the fourth quarter valued at approximately $1,750,000. Finally, Natixis Advisors LLC boosted its position in shares of Corning by 32.1% during the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after purchasing an additional 116,583 shares in the last quarter. 69.80% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, 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 value 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. The trade was a 15.48% 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, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 170,774 shares of company stock worth $28,148,435 over the last three months. Company insiders own 0.25% of the company’s stock.

Corning Stock Down 6.8%

Shares of NYSE:GLW opened at $178.74 on Tuesday. The stock has a fifty day simple moving average of $157.10 and a two-hundred day simple moving average of $120.55. The stock has a market capitalization of $153.83 billion, a price-to-earnings ratio of 85.52, a PEG ratio of 2.74 and a beta of 1.14. Corning Incorporated has a 12-month low of $47.40 and a 12-month high of $211.79. 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 posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping 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 firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the previous year, the business earned $0.54 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on GLW shares. Zacks Research upgraded Corning from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Fox Advisors cut Corning from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 29th. HSBC reiterated a “buy” rating and set a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research note on Sunday. Finally, Oppenheimer lifted their price objective on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target 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.