DAVENPORT & Co LLC Buys 5,725 Shares of Corning Incorporated $GLW

DAVENPORT & Co LLC raised its stake in Corning Incorporated (NYSE:GLW) by 23.1% during the fourth quarter, Holdings Channel reports. The fund owned 30,550 shares of the electronics maker’s stock after buying an additional 5,725 shares during the period. DAVENPORT & Co LLC’s holdings in Corning were worth $2,675,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. ARS Wealth Advisors Group LLC increased its stake in shares of Corning by 17.6% during the 4th quarter. ARS Wealth Advisors Group LLC now owns 6,675 shares of the electronics maker’s stock worth $584,000 after purchasing an additional 1,000 shares during the last quarter. Hummer Financial Advisory Services Inc bought a new stake in shares of Corning in the 4th quarter worth approximately $204,000. Daymark Wealth Partners LLC lifted its stake in Corning by 2.2% in the fourth quarter. Daymark Wealth Partners LLC now owns 5,842 shares of the electronics maker’s stock valued at $512,000 after purchasing an additional 125 shares during the last quarter. Thayer Financial L.L.C. purchased a new position in Corning in the fourth quarter valued at approximately $280,000. Finally, Focus Financial Network Inc. grew its holdings in Corning by 2.7% during the fourth quarter. Focus Financial Network Inc. now owns 14,317 shares of the electronics maker’s stock valued at $1,254,000 after purchasing an additional 378 shares during the period. 69.80% of the stock is owned by institutional investors.

Insider Buying and Selling at Corning

In other Corning news, SVP Li Fang sold 9,797 shares of Corning stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total transaction of $1,112,057.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Eric S. Musser sold 25,000 shares of the company’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $110.00, for a total value of $2,750,000.00. Following the sale, the insider owned 19,926 shares in the company, valued at approximately $2,191,860. This represents a 55.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 233,201 shares of company stock worth $32,614,558. 0.40% of the stock is owned by corporate insiders.

Corning Trading Up 1.2%

Shares of GLW stock opened at $136.94 on Friday. The stock has a market capitalization of $117.64 billion, a price-to-earnings ratio of 74.43, a PEG ratio of 2.16 and a beta of 1.05. The company’s fifty day simple moving average is $126.73 and its two-hundred day simple moving average is $99.82. Corning Incorporated has a 1 year low of $37.31 and a 1 year high of $162.10. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04.

Corning (NYSE:GLW) last posted its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period last year, the company earned $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be paid a $0.28 dividend. The ex-dividend date is Friday, February 27th. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s dividend payout ratio (DPR) is currently 60.87%.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Bank of America raised their target price on Corning from $144.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, March 23rd. HSBC reiterated a “buy” rating and set a $135.00 price target on shares of Corning in a research note on Friday, February 13th. Morgan Stanley lifted their price objective on Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Wolfe Research set a $130.00 price objective on Corning and gave the company an “outperform” rating in a research note on Tuesday, January 27th. Finally, Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average price target of $132.67.

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.