Godsey & Gibb Inc. Boosts Stake in Corning Incorporated $GLW

Key Points

• Godsey & Gibb Inc. increased its stake in Corning Incorporated by 2.3%, now holding 464,133 shares valued at approximately $24.4 million, making it the 18th largest holding in their portfolio.
• Corning recently reported earnings of $0.60 per share, exceeding analysts' expectations of $0.57, and forecasted earnings between $0.630 and $0.670 for Q3 2025.
• Institutional investors own 69.80% of Corning's shares, with several hedge funds increasing their positions significantly during the first quarter of the year.

Godsey & Gibb Inc. grew its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 2.3% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 464,133 shares of the electronics maker's stock after buying an additional 10,280 shares during the period. Corning accounts for 2.3% of Godsey & Gibb Inc.'s portfolio, making the stock its 18th biggest holding. Godsey & Gibb Inc. owned 0.05% of Corning worth $24,409,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Investment Management Corp VA ADV raised its stake in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 463 shares during the period. Annis Gardner Whiting Capital Advisors LLC raised its position in shares of Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock valued at $34,000 after buying an additional 353 shares during the last quarter. Banque Transatlantique SA bought a new position in shares of Corning during the first quarter worth $34,000. Resources Management Corp CT ADV grew its stake in Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock valued at $34,000 after acquiring an additional 300 shares in the last quarter. Finally, Gen Wealth Partners Inc boosted its holdings in shares of Corning by 151.7% during the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock valued at $35,000 after purchasing an additional 455 shares during the last quarter. 69.80% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, SVP Michael Paul O'day sold 14,879 shares of the business's stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.36, for a total value of $927,854.44. Following the sale, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. The trade was a 29.39% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Avery H. Nelson III sold 36,240 shares of Corning stock in a transaction dated Wednesday, July 30th. The shares were sold at an average price of $62.26, for a total value of $2,256,302.40. Following the completion of the transaction, the chief operating officer owned 64,838 shares of the company's stock, valued at $4,036,813.88. The trade was a 35.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,671 shares of company stock worth $11,816,899. 0.40% of the stock is currently owned by company insiders.

Corning Price Performance

Shares of Corning stock opened at $85.34 on Tuesday. The business has a 50 day simple moving average of $71.34 and a two-hundred day simple moving average of $56.27. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.50 and a quick ratio of 0.93. The stock has a market capitalization of $73.10 billion, a P/E ratio of 90.79, a PEG ratio of 1.86 and a beta of 1.14. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $86.10.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $3.86 billion for the quarter, compared to the consensus estimate of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same period last year, the firm posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on GLW shares. Oppenheimer restated an "outperform" rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a research report on Wednesday, July 30th. Weiss Ratings restated a "hold (c+)" rating on shares of Corning in a report on Saturday, September 27th. Mizuho lifted their price target on shares of Corning from $74.00 to $90.00 and gave the company an "outperform" rating in a research note on Friday. Susquehanna restated a "positive" rating and issued a $75.00 price target (up previously from $60.00) on shares of Corning in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their target price on shares of Corning from $62.00 to $65.00 and gave the stock an "overweight" rating in a report on Friday, July 25th. One research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $71.42.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.

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