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

Gibbs Wealth Management grew its stake in Corning Incorporated (NYSE:GLW) by 49.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 12,474 shares of the electronics maker’s stock after acquiring an additional 4,141 shares during the period. Gibbs Wealth Management’s holdings in Corning were worth $1,696,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the stock. Signature Equity Partners LLC boosted its position in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after buying an additional 62 shares during the last quarter. Beirne Wealth Consulting Services LLC raised its position in shares of Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock worth $1,094,000 after acquiring an additional 64 shares during the last quarter. Balefire LLC lifted its stake in shares of Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after acquiring an additional 65 shares during the period. Millstone Evans Group LLC boosted its holdings in Corning by 1.3% in the first quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock valued at $733,000 after acquiring an additional 67 shares during the last quarter. Finally, Geneos Wealth Management Inc. boosted its holdings in Corning by 1.6% in the first quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock valued at $623,000 after acquiring an additional 70 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Corning Price Performance

Shares of GLW opened at $155.91 on Friday. 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 Incorporated has a 1 year low of $54.89 and a 1 year high of $271.78. The stock has a market cap of $134.18 billion, a P/E ratio of 74.60, a price-to-earnings-growth ratio of 2.03 and a beta of 1.09. The stock’s 50-day moving average price is $188.92 and its two-hundred day moving average price is $155.20.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion during 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%.Corning’s revenue was up 18.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts predict that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Announces Dividend

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

Insider Buying and Selling

In other Corning news, VP John Z. Zhang sold 10,000 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following 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 is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This trade represents a 22.49% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Barclays boosted their price target on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Oppenheimer increased their price objective on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a report on Tuesday, July 7th. Finally, Citigroup raised their price objective on shares of Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus 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.