Corning Incorporated $GLW is Godsey & Gibb Inc.’s Largest Position

Godsey & Gibb Inc. lessened its holdings in shares of Corning Incorporated (NYSE:GLW) by 18.8% during the 1st quarter, Holdings Channel reports. The firm owned 310,995 shares of the electronics maker’s stock after selling 71,963 shares during the period. Corning comprises about 3.7% of Godsey & Gibb Inc.’s portfolio, making the stock its biggest holding. Godsey & Gibb Inc.’s holdings in Corning were worth $42,286,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in GLW. KRS Capital Management LLC boosted its stake in Corning by 2.2% in the 1st quarter. KRS Capital Management LLC now owns 4,058 shares of the electronics maker’s stock worth $552,000 after purchasing an additional 88 shares during the period. Sheets Smith Wealth Management raised its position in shares of Corning by 2.1% during the first quarter. Sheets Smith Wealth Management now owns 4,450 shares of the electronics maker’s stock valued at $605,000 after buying an additional 90 shares during the last quarter. Beese Fulmer Investment Management Inc. lifted its holdings in shares of Corning by 2.5% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after buying an additional 92 shares in the last quarter. 3Chopt Investment Partners LLC boosted its position in shares of Corning by 1.0% during the fourth quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock worth $897,000 after acquiring an additional 97 shares during the last quarter. Finally, Patten & Patten Inc. TN boosted its position in shares of Corning by 0.6% during the fourth quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after acquiring an additional 100 shares during the last quarter. 69.80% of the stock is owned by hedge funds and other institutional investors.

Corning Price Performance

GLW stock opened at $194.02 on Wednesday. Corning Incorporated has a 52 week low of $51.09 and a 52 week high of $212.39. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The company has a fifty day simple moving average of $181.88 and a two-hundred day simple moving average of $139.30. The firm has a market capitalization of $166.98 billion, a P/E ratio of 92.83, a price-to-earnings-growth ratio of 3.00 and a beta of 1.15.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business’s quarterly revenue was up 18.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s operating margin has improved since launching its Springboard plan, helped by strong growth in its Optical Communications business, which supports the case for better profitability and sustained earnings momentum. Corning Rides on Strong Operating Margin Growth: Will it Sustain?
• Positive Sentiment: Unusual options activity showed traders buying a large number of call options in GLW, suggesting increased bullish speculation ahead of further gains.
• Positive Sentiment: A recent analyst update from UBS raised Corning’s price target to $228 from $223 and kept a Buy rating, reinforcing investor confidence in the company’s outlook. Here is why Corning Incorporated (GLW) is among the Most Overvalued Quantum Computing Stocks According to Short Sellers
• Neutral Sentiment: Some articles highlighted Corning as an overvalued quantum-computing-related stock based on its forward P/E, which may temper enthusiasm, but the coverage also noted that the company still has supportive analyst sentiment. Here is why Corning Incorporated (GLW) is among the Most Overvalued Quantum Computing Stocks According to Short Sellers

Analyst Ratings Changes

A number of brokerages have issued reports on GLW. Oppenheimer lifted their price target on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. UBS Group lifted their target price on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Barclays boosted their target price on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Finally, Bank of America raised their price target on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $182.62.

Insider Activity at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over the last ninety days. 0.25% of the stock is currently owned by company insiders.

About Corning

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.