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

DAVENPORT & Co LLC raised its position in Corning Incorporated (NYSE:GLW) by 23.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 30,550 shares of the electronics maker’s stock after acquiring 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 SEC.

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

Corning Stock Up 1.2%

GLW opened at $136.94 on Friday. Corning Incorporated has a fifty-two week low of $37.31 and a fifty-two week high of $162.10. The firm has a market capitalization of $117.64 billion, a P/E ratio of 74.43, a PEG ratio of 2.16 and a beta of 1.05. The company’s 50-day moving average is $126.73 and its 200 day moving average is $99.82. 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 issued its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm’s quarterly revenue was up 13.9% compared to the same quarter last year. During the same period in the prior year, the firm posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Wolfe Research set a $130.00 target price on shares of Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Bank of America raised their price target on shares of Corning from $144.00 to $155.00 and gave the company a “buy” rating in a research report on Monday, March 23rd. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Barclays set a $100.00 price objective on Corning in a research note on Thursday, January 29th. Finally, Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $132.67.

Insider Buying and Selling

In related news, insider Eric S. Musser sold 25,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the completion of the sale, the insider directly owned 19,926 shares of the company’s stock, valued at approximately $2,191,860. This trade represents a 55.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Edward A. Schlesinger sold 21,104 shares of Corning stock in a transaction on Thursday, January 29th. The stock was sold at an average price of $104.55, for a total value of $2,206,423.20. Following the sale, the chief financial officer owned 54,780 shares in the company, valued at $5,727,249. This trade represents a 27.81% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 233,201 shares of company stock valued at $32,614,558 over the last quarter. Corporate insiders own 0.40% of the company’s stock.

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.