Gateway Investment Advisers LLC Lowers Position in Corning Incorporated $GLW

Gateway Investment Advisers LLC decreased its stake in shares of Corning Incorporated (NYSE:GLW) by 11.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 293,039 shares of the electronics maker’s stock after selling 39,650 shares during the period. Gateway Investment Advisers LLC’s holdings in Corning were worth $24,038,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Fifth Third Wealth Advisors LLC grew its stake in shares of Corning by 11.6% during the 3rd quarter. Fifth Third Wealth Advisors LLC now owns 7,014 shares of the electronics maker’s stock valued at $575,000 after buying an additional 729 shares during the period. Penobscot Investment Management Company Inc. boosted its holdings in Corning by 8.1% in the third quarter. Penobscot Investment Management Company Inc. now owns 40,093 shares of the electronics maker’s stock valued at $3,289,000 after acquiring an additional 3,000 shares during the last quarter. Radnor Capital Management LLC grew its position in Corning by 4.9% during the third quarter. Radnor Capital Management LLC now owns 46,177 shares of the electronics maker’s stock valued at $3,788,000 after acquiring an additional 2,152 shares during the period. SC&H Financial Advisors Inc. acquired a new stake in Corning during the third quarter worth about $311,000. Finally, Moss Adams Wealth Advisors LLC purchased a new position in shares of Corning in the 3rd quarter worth about $264,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Price Performance

GLW opened at $90.62 on Friday. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $96.64. The firm has a market cap of $77.69 billion, a price-to-earnings ratio of 57.35, a PEG ratio of 1.65 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 fifty day simple moving average of $86.60 and a 200 day simple moving average of $74.33.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.01. The firm had revenue of $4.10 billion for the quarter, compared to analyst estimates of $4.24 billion. Corning had a net margin of 9.16% and a return on equity of 18.12%. The firm’s revenue was up 20.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. Equities research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 12th. Shareholders of record on Friday, November 14th were paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Friday, November 14th. Corning’s dividend payout ratio (DPR) is 70.89%.

Insiders Place Their Bets

In related news, CFO Edward A. Schlesinger sold 20,893 shares of Corning stock in a transaction on Friday, October 31st. The shares were sold at an average price of $91.25, for a total value of $1,906,486.25. Following the completion of the sale, the chief financial officer owned 66,959 shares in the company, valued at approximately $6,110,008.75. The trade was a 23.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Lewis A. Steverson sold 23,142 shares of the company’s stock in a transaction on Friday, October 31st. The shares were sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the completion of 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 SEC filing for this sale provides additional information. Insiders have sold 156,135 shares of company stock valued at $14,088,769 over the last 90 days. 0.40% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on GLW. Mizuho set a $97.00 target price on Corning in a report on Wednesday, October 29th. UBS Group reiterated a “buy” rating and set a $109.00 price objective (up from $100.00) on shares of Corning in a research note on Friday, November 21st. Morgan Stanley raised their target price on shares of Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Finally, Oppenheimer set a $100.00 price target on Corning and gave the company an “outperform” rating in a report on Wednesday, October 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 company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $93.09.

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.