Corning Incorporated $GLW Shares Sold by Gabelli Funds LLC

Key Points

• Gabelli Funds LLC reduced its Corning stake by 10.9% in the fourth quarter, selling 35,149 shares and ending with 287,699 shares worth about $25.2 million.
• Insiders were active sellers, with VP John Z. Zhang and SVP Soumya Seetharam both selling shares on May 11; over the last 90 days, insiders have sold 170,774 shares valued at $28.1 million.
• Corning posted solid quarterly results and raised expectations, beating EPS and revenue estimates in its latest report and issuing Q2 2026 guidance of $0.73 to $0.77 EPS, while analysts maintain a consensus “Moderate Buy” rating with an average price target of $177.92.

Gabelli Funds LLC trimmed its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 287,699 shares of the electronics maker's stock after selling 35,149 shares during the period. Gabelli Funds LLC's holdings in Corning were worth $25,191,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Capital Research Global Investors acquired a new position in shares of Corning during the 3rd quarter worth approximately $907,164,000. WCM Investment Management LLC acquired a new position in shares of Corning during the 3rd quarter worth approximately $676,931,000. Wellington Management Group LLP raised its position in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker's stock worth $1,358,211,000 after purchasing an additional 3,848,540 shares during the last quarter. Polar Capital Holdings Plc raised its position in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker's stock worth $329,035,000 after purchasing an additional 2,348,125 shares during the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of Corning during the 3rd quarter worth approximately $185,221,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Corning news, VP John Z. Zhang sold 10,000 shares of the business's stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Soumya Seetharam sold 20,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the transaction, the senior vice president owned 25,570 shares of the company's stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 170,774 shares of company stock valued at $28,148,435. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Truist Financial lifted their price objective on Corning from $125.00 to $149.00 and gave the stock a "hold" rating in a research report on Wednesday, April 29th. Weiss Ratings upgraded Corning from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, February 17th. Citigroup lifted their price objective on Corning from $175.00 to $225.00 and gave the stock a "buy" rating in a research report on Thursday, May 7th. Wall Street Zen upgraded Corning from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, JPMorgan Chase & Co. lifted their price objective on Corning from $175.00 to $185.00 and gave the stock a "neutral" rating in a research report on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $177.92.

Corning Trading Down 6.8%

Shares of GLW opened at $178.74 on Tuesday. The stock has a fifty day moving average of $157.10 and a two-hundred day moving average of $120.55. 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 $153.83 billion, a PE ratio of 85.52, a price-to-earnings-growth ratio of 2.74 and a beta of 1.14. Corning Incorporated has a fifty-two week low of $47.40 and a fifty-two week high of $211.79.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.35 billion during the quarter, compared to the consensus estimate 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 previous year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

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

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.

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