Gibbs Wealth Management Trims Stake in Corning Incorporated $GLW

Gibbs Wealth Management lowered its holdings in Corning Incorporated (NYSE:GLW) by 51.3% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 10,576 shares of the electronics maker’s stock after selling 11,150 shares during the period. Gibbs Wealth Management’s holdings in Corning were worth $868,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of GLW. Financial Management Professionals Inc. increased its position in shares of Corning by 111.1% in the third quarter. Financial Management Professionals Inc. now owns 380 shares of the electronics maker’s stock worth $31,000 after purchasing an additional 200 shares during the last quarter. RMG Wealth Management LLC grew its stake in Corning by 125.0% in the 3rd quarter. RMG Wealth Management LLC now owns 450 shares of the electronics maker’s stock worth $38,000 after buying an additional 250 shares in the last quarter. Bayforest Capital Ltd bought a new position in shares of Corning in the 3rd quarter worth $39,000. Steigerwald Gordon & Koch Inc. purchased a new stake in shares of Corning during the 3rd quarter valued at $42,000. Finally, REAP Financial Group LLC lifted its holdings in shares of Corning by 191.5% during the 2nd quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock worth $27,000 after acquiring an additional 339 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Oppenheimer set a $100.00 price target on Corning and gave the stock an “outperform” rating in a research note on Wednesday, October 29th. Barclays raised their price objective on Corning from $65.00 to $83.00 and gave the company an “equal weight” rating in a report on Wednesday, October 29th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a research report on Friday. Mizuho set a $97.00 price target on shares of Corning in a research report on Wednesday, October 29th. Finally, Susquehanna boosted their price objective on shares of Corning from $75.00 to $100.00 and gave the stock a “positive” rating in a report on Wednesday, October 29th. One research analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $93.36.

Insider Activity

In other news, EVP Lewis A. Steverson sold 23,142 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of the sale, the executive vice president directly owned 17,575 shares in the company, valued at approximately $1,565,053.75. This represents a 56.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Edward A. Schlesinger sold 20,893 shares of the business’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $91.25, for a total value of $1,906,486.25. Following the transaction, the chief financial officer owned 66,959 shares in the company, valued at approximately $6,110,008.75. This represents a 23.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 156,135 shares of company stock worth $14,088,769 in the last quarter. Insiders own 0.40% of the company’s stock.

Corning Price Performance

Shares of Corning stock opened at $93.37 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.56 and a quick ratio of 1.00. Corning Incorporated has a one year low of $37.31 and a one year high of $96.64. The business’s 50 day simple moving average is $87.63 and its two-hundred day simple moving average is $78.39. The stock has a market capitalization of $80.05 billion, a P/E ratio of 59.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13.

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

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.