D.A. Davidson & CO. Has $10.39 Million Position in Corning Incorporated $GLW

D.A. Davidson & CO. lessened its holdings in Corning Incorporated (NYSE:GLW) by 14.1% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 76,384 shares of the electronics maker’s stock after selling 12,565 shares during the quarter. D.A. Davidson & CO.’s holdings in Corning were worth $10,386,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC raised its position in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after acquiring an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. bought a new position in Corning during the 1st quarter valued at $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after buying an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC bought a new position in Corning during the second quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. purchased a new stake in Corning in the second quarter worth $266,000. 69.80% of the stock is owned by institutional investors.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. This represents a 24.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock worth $30,692,560 in the last three months. Company insiders own 0.25% of the company’s stock.

Corning Price Performance

GLW opened at $154.47 on Friday. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a market capitalization of $132.94 billion, a PE ratio of 73.91, a price-to-earnings-growth ratio of 2.08 and a beta of 1.09. Corning Incorporated has a 1 year low of $53.29 and a 1 year high of $271.78. The business’s 50-day moving average is $192.81 and its two-hundred day moving average is $152.85.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (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 firm had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period last year, the business posted $0.54 earnings per share. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts anticipate that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is 53.59%.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on GLW. Susquehanna lifted their target price on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Morgan Stanley set a $180.00 target price on Corning in a research note on Friday, May 8th. Oppenheimer increased their target price on Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. Truist Financial boosted their price objective on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Finally, Barclays upped their target price 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. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average price target of $194.69.

About Corning

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.