Chapin Davis Inc. Sells 57,864 Shares of Corning Incorporated $GLW

Chapin Davis Inc. decreased its holdings in Corning Incorporated (NYSE:GLW) by 93.6% in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 3,926 shares of the electronics maker’s stock after selling 57,864 shares during the quarter. Chapin Davis Inc.’s holdings in Corning were worth $1,003,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Alliance Wealth Advisors LLC increased its stake in Corning by 1.4% in the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock valued at $1,033,000 after acquiring an additional 56 shares during the period. Ares Financial Consulting LLC lifted its stake in Corning by 15.6% during the second quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock worth $113,000 after purchasing an additional 60 shares during the period. Signature Equity Partners LLC lifted its stake in Corning by 19.3% during the first quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after purchasing an additional 62 shares during the period. Beirne Wealth Consulting Services LLC boosted its holdings in Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after purchasing an additional 64 shares in the last quarter. Finally, Balefire LLC boosted its holdings in Corning by 0.7% during the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after purchasing an additional 65 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Corning Price Performance

Shares of Corning stock opened at $148.87 on Friday. The stock has a market capitalization of $128.24 billion, a price-to-earnings ratio of 67.98, a P/E/G ratio of 1.96 and a beta of 1.14. The firm’s 50-day moving average price is $171.18 and its two-hundred day moving average price is $164.60. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 1-year low of $66.14 and a 1-year high of $271.78.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s payout ratio is presently 51.14%.

Insider Transactions at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on GLW shares. UBS Group reissued a “buy” rating and issued a $196.00 target price on shares of Corning in a report on Wednesday, July 29th. Mizuho decreased their price target on Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Morgan Stanley lowered their price target on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Weiss Ratings cut Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

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.