Gamco Investors INC. ET AL Decreases Stock Holdings in Corning Incorporated $GLW

Gamco Investors INC. ET AL decreased its holdings in Corning Incorporated (NYSE:GLW) by 2.7% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 221,155 shares of the electronics maker’s stock after selling 6,090 shares during the quarter. Gamco Investors INC. ET AL’s holdings in Corning were worth $11,631,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the company. StoneX Group Inc. grew its position in shares of Corning by 7.3% in the 2nd quarter. StoneX Group Inc. now owns 48,182 shares of the electronics maker’s stock worth $2,534,000 after buying an additional 3,294 shares during the period. Cheviot Value Management LLC increased its position in shares of Corning by 25.1% during the second quarter. Cheviot Value Management LLC now owns 6,269 shares of the electronics maker’s stock valued at $330,000 after acquiring an additional 1,258 shares in the last quarter. SageView Advisory Group LLC raised its stake in shares of Corning by 27.1% in the second quarter. SageView Advisory Group LLC now owns 24,677 shares of the electronics maker’s stock worth $1,367,000 after purchasing an additional 5,269 shares during the last quarter. Qtron Investments LLC purchased a new position in Corning in the 2nd quarter worth about $928,000. Finally, Diametric Capital LP purchased a new position in shares of Corning during the second quarter valued at approximately $263,000. 69.80% of the stock is owned by institutional investors.

Corning Trading Up 0.6%

GLW opened at $85.96 on Monday. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62. The stock’s fifty day moving average is $84.88 and its two-hundred day moving average is $69.00. The company has a market capitalization of $73.70 billion, a P/E ratio of 54.41, a PEG ratio of 1.88 and a beta of 1.11. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $92.57.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, beating the consensus estimate of $0.66 by $0.01. The business had revenue of $4.10 billion during the quarter, compared to analyst estimates of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be paid a $0.28 dividend. The ex-dividend date is Friday, November 14th. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. Corning’s dividend payout ratio (DPR) is 70.89%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on GLW shares. UBS Group reissued a “buy” rating and issued a $109.00 price objective (up previously from $100.00) on shares of Corning in a report on Friday, November 21st. Citigroup lifted their target price on Corning from $93.00 to $99.00 and gave the company a “buy” rating in a research note on Wednesday, October 29th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Monday, December 1st. Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. Finally, JPMorgan Chase & Co. raised their price objective on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $91.64.

Insider Buying and Selling

In other news, insider Eric S. Musser sold 100,000 shares of the company’s stock in a transaction dated Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the transaction, the insider owned 44,926 shares in the company, valued at $4,050,977.42. This represents a 69.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the sale, the executive vice president owned 17,575 shares of the company’s stock, valued at $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 173,856 shares of company stock valued at $15,456,476 in the last 90 days. 0.32% of the stock is owned by insiders.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.