Godsey & Gibb Inc. Has $42.29 Million Stake in Corning Incorporated $GLW

Godsey & Gibb Inc. trimmed its stake in shares of Corning Incorporated (NYSE:GLW) by 18.8% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 310,995 shares of the electronics maker’s stock after selling 71,963 shares during the period. Corning makes up 3.7% of Godsey & Gibb Inc.’s investment portfolio, making the stock its largest holding. Godsey & Gibb Inc.’s holdings in Corning were worth $42,286,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its stake in Corning by 0.6% during the 4th quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after buying an additional 580,678 shares during the last quarter. State Street Corp boosted its stake in shares of Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares during the last quarter. Geode Capital Management LLC grew its holdings in shares of Corning by 2.6% in the fourth quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock worth $1,781,250,000 after acquiring an additional 517,067 shares during the period. Capital Research Global Investors grew its holdings in shares of Corning by 52.7% in the fourth 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 period. Finally, Wellington Management Group LLP increased its position in Corning by 30.3% during the third quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after acquiring an additional 3,848,540 shares during the last quarter. Institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research 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. JPMorgan Chase & Co. boosted their price target on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. UBS Group upped their price target on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Bank of America increased their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Finally, Truist Financial boosted their target price on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $182.62.

Corning Price Performance

NYSE GLW opened at $194.02 on Wednesday. The business’s fifty day moving average is $181.88 and its 200 day moving average is $139.30. Corning Incorporated has a fifty-two week low of $51.09 and a fifty-two week high of $212.39. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market capitalization of $166.98 billion, a PE ratio of 92.83, a price-to-earnings-growth ratio of 3.00 and a beta of 1.15.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the business posted $0.54 earnings per share. The business’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s dividend payout ratio is currently 53.59%.

Key Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning’s operating margin has improved since launching its Springboard plan, helped by strong growth in its Optical Communications business, which supports the case for better profitability and sustained earnings momentum. Corning Rides on Strong Operating Margin Growth: Will it Sustain?
• Positive Sentiment: Unusual options activity showed traders buying a large number of call options in GLW, suggesting increased bullish speculation ahead of further gains.
• Positive Sentiment: A recent analyst update from UBS raised Corning’s price target to $228 from $223 and kept a Buy rating, reinforcing investor confidence in the company’s outlook. Here is why Corning Incorporated (GLW) is among the Most Overvalued Quantum Computing Stocks According to Short Sellers
• Neutral Sentiment: Some articles highlighted Corning as an overvalued quantum-computing-related stock based on its forward P/E, which may temper enthusiasm, but the coverage also noted that the company still has supportive analyst sentiment. Here is why Corning Incorporated (GLW) is among the Most Overvalued Quantum Computing Stocks According to Short Sellers

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. This represents a 43.89% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 160,655 shares of company stock worth $30,692,560 in the last 90 days. Insiders own 0.25% of the company’s stock.

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.