D.A. Davidson & CO. Has $4.94 Million Stake in Corning Incorporated $GLW

D.A. Davidson & CO. raised its position in Corning Incorporated (NYSE:GLW) by 0.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 93,957 shares of the electronics maker’s stock after purchasing an additional 470 shares during the quarter. D.A. Davidson & CO.’s holdings in Corning were worth $4,941,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. REAP Financial Group LLC increased its position in shares of Corning by 191.5% in the second quarter. REAP Financial Group LLC now owns 516 shares of the electronics maker’s stock valued at $27,000 after acquiring an additional 339 shares during the last quarter. Investment Management Corp VA ADV grew its position in shares of Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock valued at $34,000 after purchasing an additional 463 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC grew its position in Corning by 90.1% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after buying an additional 353 shares in the last quarter. Resources Management Corp CT ADV grew its position in Corning by 66.7% during the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after buying an additional 300 shares in the last quarter. Finally, Gen Wealth Partners Inc grew its position in Corning by 151.7% during the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after buying an additional 455 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Price Performance

Corning stock opened at $87.46 on Friday. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $87.78. The company’s 50 day moving average price is $77.36 and its two-hundred day moving average price is $60.07. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The stock has a market cap of $74.92 billion, a P/E ratio of 93.04, a P/E/G ratio of 1.92 and a beta of 1.14.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The firm had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter last year, the firm earned $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. On average, equities analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, November 14th. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. Corning’s dividend payout ratio (DPR) is currently 119.15%.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on GLW. Oppenheimer reaffirmed an “outperform” rating and issued a $72.00 target price (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. UBS Group raised their price objective on Corning from $84.00 to $91.00 and gave the company a “buy” rating in a report on Tuesday, September 23rd. JPMorgan Chase & Co. raised their price objective on Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a report on Friday, July 25th. Morgan Stanley raised their target price on Corning from $56.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Friday, October 10th. Finally, Citigroup increased their price target on Corning from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday, September 24th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average target price of $73.00.

Insider Activity

In other Corning news, CEO Wendell P. Weeks sold 82,103 shares of Corning stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $65.19, for a total transaction of $5,352,294.57. Following the transaction, the chief executive officer owned 809,295 shares of the company’s stock, valued at $52,757,941.05. This trade represents a 9.21% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michael Paul O’day sold 14,879 shares of Corning stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the completion of the sale, the senior vice president directly owned 35,743 shares in the company, valued at $2,228,933.48. This trade represents a 29.39% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 181,671 shares of company stock worth $11,816,899. Corporate insiders own 0.40% of the company’s stock.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.