Chapin Davis Inc. Has $1 Million Stock Holdings in Corning Incorporated $GLW

Chapin Davis Inc. cut its stake in Corning Incorporated (NYSE:GLW) by 93.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,926 shares of the electronics maker’s stock after selling 57,864 shares during the period. Chapin Davis Inc.’s holdings in Corning were worth $1,003,000 at the end of the most recent quarter.

A number of other institutional investors have also bought and sold shares of GLW. Trust Asset Management LLC lifted its stake in shares of Corning by 1.0% in the 2nd quarter. Trust Asset Management LLC now owns 8,648 shares of the electronics maker’s stock valued at $2,209,000 after purchasing an additional 85 shares during the period. Balefire LLC lifted its stake in Corning by 2.5% in the second quarter. Balefire LLC now owns 9,838 shares of the electronics maker’s stock valued at $2,513,000 after buying an additional 243 shares during the period. Baron Wealth Management LLC boosted its holdings in shares of Corning by 15.4% during the 2nd quarter. Baron Wealth Management LLC now owns 2,303 shares of the electronics maker’s stock worth $588,000 after buying an additional 308 shares in the last quarter. GK Wealth Management LLC acquired a new stake in shares of Corning during the 2nd quarter worth approximately $302,000. Finally, GAMMA Investing LLC increased its stake in shares of Corning by 4.0% in the 2nd quarter. GAMMA Investing LLC now owns 20,422 shares of the electronics maker’s stock valued at $5,216,000 after acquiring an additional 787 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on GLW. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Mizuho decreased their target price on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. UBS Group reiterated a “buy” rating and issued a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. Finally, Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Trading Down 2.0%

NYSE:GLW opened at $156.63 on Thursday. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The firm has a 50-day moving average of $180.55 and a 200-day moving average of $158.57. The company has a market cap of $134.92 billion, a PE ratio of 71.52, a PEG ratio of 2.05 and a beta of 1.14. Corning Incorporated has a one year low of $63.15 and a one year high of $271.78.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion for 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%. The firm’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities research analysts expect that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Insider Activity at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. This represents a 22.49% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 160,655 shares of company stock valued at $30,692,560 over the last 90 days. Corporate insiders own 0.25% 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.