Gibbs Wealth Management Purchases 4,141 Shares of Corning Incorporated $GLW

Gibbs Wealth Management raised its position in Corning Incorporated (NYSE:GLW) by 49.7% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 12,474 shares of the electronics maker’s stock after purchasing an additional 4,141 shares during the quarter. Gibbs Wealth Management’s holdings in Corning were worth $1,696,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of GLW. Norges Bank bought a new position in shares of Corning during the fourth quarter worth about $921,435,000. Capital Research Global Investors boosted its position in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after acquiring an additional 5,831,873 shares during the last quarter. Polar Capital Holdings Plc boosted its position in Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after acquiring an additional 2,348,125 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its stake in shares of Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after acquiring an additional 2,304,676 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. acquired a new stake in shares of Corning in the fourth quarter valued at approximately $185,312,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Corning news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 160,655 shares of company stock worth $30,692,560 in the last 90 days. 0.25% of the stock is owned by corporate insiders.

Corning Price Performance

NYSE:GLW opened at $155.91 on Friday. Corning Incorporated has a 1-year low of $54.89 and a 1-year high of $271.78. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The firm has a fifty day simple moving average of $188.92 and a 200 day simple moving average of $155.20. The stock has a market capitalization of $134.18 billion, a PE ratio of 74.60, a P/E/G ratio of 2.03 and a beta of 1.09.

Corning (NYSE:GLW) last issued 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 business 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 firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same period in the previous 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 expect that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is presently 53.59%.

Wall Street Analyst Weigh In

A number of analysts have recently commented on GLW shares. UBS Group set a $243.00 price objective on shares of Corning in a research report on Monday, July 6th. Susquehanna raised their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Finally, Truist Financial increased their price objective on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and a consensus price target of $194.69.

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.