DB Fitzpatrick & Co Inc Decreases Stake in Corning Incorporated $GLW

DB Fitzpatrick & Co Inc cut its holdings in shares of Corning Incorporated (NYSE:GLW) by 31.6% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,911 shares of the electronics maker’s stock after selling 3,648 shares during the quarter. DB Fitzpatrick & Co Inc’s holdings in Corning were worth $1,076,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Merit Financial Group LLC increased its holdings in shares of Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after purchasing an additional 6,493 shares during the last quarter. Security National Bank lifted its position in Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after buying an additional 56,056 shares in the last quarter. Natixis Advisors LLC boosted its stake in Corning by 32.1% during the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after buying an additional 116,583 shares during the last quarter. Three Seasons Wealth LLC purchased a new stake in Corning in the 4th quarter valued at $1,750,000. Finally, RiverFront Investment Group LLC grew its holdings in Corning by 65.4% in the 4th quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker’s stock valued at $1,289,000 after buying an additional 5,818 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently commented on GLW. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Barclays upped their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Mizuho lifted their target price on shares of Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a research note on Wednesday. Finally, UBS Group boosted their target price on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and a consensus price target of $186.46.

Insider Buying and Selling

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 over the last 90 days. 0.25% of the stock is owned by insiders.

Corning Stock Down 11.1%

Shares of NYSE GLW opened at $196.12 on Friday. The firm has a market cap of $168.79 billion, a price-to-earnings ratio of 93.84, a PEG ratio of 3.16 and a beta of 1.09. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 52-week low of $51.32 and a 52-week high of $271.78. The business’s 50 day moving average is $190.04 and its two-hundred day moving average is $146.03.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period last year, the business posted $0.54 earnings per share. The company’s quarterly revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Mizuho raised its price target on Corning to $270 from $220 and kept an outperform rating, signaling confidence that the AI/data-center buildout still supports further upside. Benzinga report on Mizuho price target hike
• Positive Sentiment: Several reports highlighted Corning’s exposure to AI-driven fiber demand, new hyperscaler deals, and margin improvement, which are helping explain why the stock has surged over the past year. Yahoo Finance article on Corning stock gains
• Positive Sentiment: Analyst and momentum coverage continues to describe Corning as a strong long-term momentum name, reinforcing the bullish narrative around secular growth in connectivity and data-center infrastructure. Zacks momentum article on Corning
• Neutral Sentiment: Commentary noted Corning has delivered an exceptional multi-year advance, which keeps the stock in focus for investors evaluating whether the valuation can be sustained after such a steep rally. MSN/Zacks momentum coverage
• Negative Sentiment: One article said Corning’s 13.6% single-day drop may reflect investor concerns that the AI fiber trade is cracking, though it could also simply be a pullback after a parabolic move. 247WallSt article on Corning drop
• Negative Sentiment: Risks remain from competition, China exposure, and consumer electronics weakness, which could limit how much of the AI-driven optimism translates into earnings growth. Yahoo Finance risk discussion

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.