Gibbs Wealth Management Sells 11,150 Shares of Corning Incorporated $GLW

Gibbs Wealth Management trimmed its position in Corning Incorporated (NYSE:GLW) by 51.3% in the third quarter, according to its most recent filing with the SEC. 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 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLW. CVA Family Office LLC grew its holdings in shares of Corning by 10.3% in the third quarter. CVA Family Office LLC now owns 1,190 shares of the electronics maker’s stock valued at $98,000 after acquiring an additional 111 shares in the last quarter. Vista Investment Partners LLC boosted its position in Corning by 1.3% in the third quarter. Vista Investment Partners LLC now owns 9,496 shares of the electronics maker’s stock worth $779,000 after purchasing an additional 119 shares during the last quarter. Sapient Capital LLC grew its stake in Corning by 2.2% in the 3rd quarter. Sapient Capital LLC now owns 5,626 shares of the electronics maker’s stock valued at $452,000 after purchasing an additional 120 shares during the period. Sivia Capital Partners LLC increased its position in shares of Corning by 1.6% during the 3rd quarter. Sivia Capital Partners LLC now owns 7,740 shares of the electronics maker’s stock valued at $635,000 after purchasing an additional 124 shares during the last quarter. Finally, Fiduciary Alliance LLC increased its position in shares of Corning by 0.7% during the 3rd quarter. Fiduciary Alliance LLC now owns 18,474 shares of the electronics maker’s stock valued at $1,515,000 after purchasing an additional 137 shares during the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

GLW has been the subject of several research reports. Morgan Stanley increased their price target on shares of Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a research report on Wednesday, December 17th. Citigroup boosted their target price on shares of Corning from $99.00 to $102.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Mizuho set a $97.00 price target on shares of Corning in a research note on Wednesday, October 29th. JPMorgan Chase & Co. upped their price objective on Corning from $85.00 to $100.00 and gave the company an “overweight” rating in a research note on Wednesday, October 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a report on Monday, December 29th. One analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $93.36.

Insider Buying and Selling

In other news, EVP Lewis A. Steverson sold 23,142 shares of the company’s stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the sale, the executive vice president directly owned 17,575 shares in the company, valued at $1,565,053.75. This represents a 56.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, insider Eric S. Musser sold 100,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 29th. The shares were sold at an average price of $90.17, for a total transaction of $9,017,000.00. Following the completion of the transaction, the insider owned 44,926 shares of the company’s stock, valued at $4,050,977.42. This trade represents a 69.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 156,135 shares of company stock worth $14,088,769 over the last quarter. 0.40% of the stock is owned by corporate insiders.

Corning Stock Down 1.0%

GLW opened at $93.37 on Friday. Corning Incorporated has a 12 month low of $37.31 and a 12 month high of $96.64. The company has a market cap of $80.05 billion, a PE ratio of 59.09, a price-to-earnings-growth ratio of 1.64 and a beta of 1.13. The company has a current ratio of 1.56, a quick ratio of 1.00 and a debt-to-equity ratio of 0.62. The company has a 50 day moving average of $87.63 and a 200 day moving average of $78.39.

Corning (NYSE:GLW) last posted 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 return on equity of 18.12% and a net margin of 9.16%.The firm had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same quarter in the prior year, the business posted $0.54 earnings per share. The business’s quarterly revenue was up 20.9% on a year-over-year basis. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning 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.