Corning Incorporated $GLW Position Lessened by Gamco Investors INC. ET AL

Gamco Investors INC. ET AL trimmed its stake in Corning Incorporated (NYSE:GLW) by 19.1% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 155,838 shares of the electronics maker’s stock after selling 36,756 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Corning were worth $21,189,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in the company. Berbice Capital Management LLC acquired a new position in shares of Corning during the fourth quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new stake in Corning in the 4th quarter valued at approximately $26,000. MBM Wealth Consultants LLC acquired a new stake in Corning in the 1st quarter valued at approximately $42,000. Kemnay Advisory Services Inc. bought a new stake in Corning during the 4th quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new position in Corning during the 4th quarter worth $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Trading Down 6.1%

Shares of NYSE:GLW opened at $146.57 on Friday. The stock has a market capitalization of $126.14 billion, a price-to-earnings ratio of 70.13, a PEG ratio of 1.93 and a beta of 1.09. Corning Incorporated has a 1-year low of $54.89 and a 1-year high of $271.78. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a 50 day moving average price of $188.01 and a 200 day moving average price of $155.14.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts anticipate that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is 53.59%.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on GLW shares. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Mizuho lifted their price objective on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Barclays raised their target price on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Finally, Bank of America increased their price objective on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. Nine research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $194.69.

Insider Buying and Selling

In related news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 160,655 shares of company stock valued at $30,692,560. 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.