Gabelli Funds LLC Has $26.48 Million Position in Corning Incorporated $GLW

Gabelli Funds LLC reduced its stake in Corning Incorporated (NYSE:GLW) by 2.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 322,848 shares of the electronics maker’s stock after selling 9,000 shares during the quarter. Gabelli Funds LLC’s holdings in Corning were worth $26,483,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Corning by 0.8% in the 3rd quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock valued at $8,096,577,000 after buying an additional 750,530 shares during the last quarter. State Street Corp boosted its position in Corning by 1.4% during the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock worth $1,923,162,000 after purchasing an additional 509,013 shares during the period. Geode Capital Management LLC grew its stake in Corning by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after buying an additional 112,739 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares during the period. Finally, Norges Bank bought a new stake in Corning in the 2nd quarter valued at about $534,936,000. 69.80% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total value of $2,000,960.52. Following the transaction, the executive vice president owned 3,461 shares of the company’s stock, valued at approximately $450,691.42. This represents a 81.62% 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, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the transaction, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. This represents a 15.48% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 233,201 shares of company stock valued at $32,614,558 in the last quarter. 0.40% of the stock is currently owned by company insiders.

Corning Stock Performance

NYSE:GLW opened at $123.21 on Friday. The company has a fifty day moving average of $113.50 and a 200-day moving average of $93.00. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $162.10. The firm has a market capitalization of $105.71 billion, a P/E ratio of 66.96, a P/E/G ratio of 2.13 and a beta of 1.05. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. Corning’s revenue was up 13.9% compared to the same quarter last year. During the same quarter last year, the firm posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, sell-side analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 annualized dividend and a yield of 0.9%. Corning’s payout ratio is currently 60.87%.

Analyst Ratings Changes

A number of research firms have recently weighed in on GLW. Fox Advisors downgraded shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Oppenheimer set a $120.00 price target on Corning in a research note on Thursday, January 29th. UBS Group raised their target price on Corning from $125.00 to $160.00 and gave the company a “buy” rating in a report on Friday, February 20th. Barclays set a $100.00 price target on Corning in a report on Thursday, January 29th. Finally, HSBC reaffirmed a “buy” rating and issued a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. Eleven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $125.42.

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.