Hendershot Investments Inc. Buys New Holdings in Corning Incorporated $GLW

Hendershot Investments Inc. bought a new position in shares of Corning Incorporated (NYSE:GLW) in the third quarter, Holdings Channel reports. The firm bought 3,443 shares of the electronics maker’s stock, valued at approximately $282,000.

Several other hedge funds also recently added to or reduced their stakes in the stock. Vanguard Group Inc. lifted its position in shares of Corning by 0.8% during the third quarter. Vanguard Group Inc. now owns 98,702,639 shares of the electronics maker’s stock worth $8,096,577,000 after purchasing an additional 750,530 shares in the last quarter. State Street Corp increased its holdings in Corning by 1.4% in the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after buying an additional 509,013 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Corning by 0.6% during the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after acquiring an additional 112,739 shares in the last quarter. Ameriprise Financial Inc. raised its holdings in shares of Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares during the period. Finally, Norges Bank bought a new position in Corning in the second quarter worth about $534,936,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Corning

In related news, insider Eric S. Musser sold 15,000 shares of the business’s stock in a transaction on Monday, February 9th. The shares were sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the transaction, the insider owned 4,926 shares of the company’s stock, valued at approximately $641,611.50. The trade was a 75.28% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP John Z. Zhang sold 1,531 shares of the company’s stock in a transaction dated Thursday, February 12th. The shares were sold at an average price of $133.75, for a total transaction of $204,771.25. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 233,201 shares of company stock valued at $32,614,558. 0.40% of the stock is owned by corporate insiders.

Corning Price Performance

Shares of GLW opened at $150.31 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $162.10. The firm’s 50 day moving average price is $108.27 and its 200 day moving average price is $90.34. The firm has a market cap of $128.96 billion, a PE ratio of 81.69, a PEG ratio of 2.60 and a beta of 1.13.

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 firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. Corning’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same period in the prior year, the company posted $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio is currently 60.87%.

Analysts Set New Price Targets

A number of research firms have issued reports on GLW. Fox Advisors cut Corning from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 29th. Citigroup lifted their price target on Corning from $120.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday. Mizuho set a $145.00 price objective on shares of Corning in a research note on Monday, February 23rd. Oppenheimer set a $120.00 target price on Corning in a report on Thursday, January 29th. Finally, Wolfe Research set a $130.00 price target on shares of Corning and gave the company an “outperform” rating in a report on Tuesday, January 27th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.42.

Corning News Roundup

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Citigroup set a new $170 price target for GLW, signaling confidence in Corning’s growth prospects and supporting higher valuation expectations. Corning (NYSE:GLW) Given New $170.00 Price Target at Citigroup
• Positive Sentiment: Analyst upgrades pushed the stock to a fresh 52?week high and prompted short?term buying; one report notes shares trading materially higher following the upgrades. Corning (NYSE:GLW) Trading Up 5.6% Following Analyst Upgrade
• Positive Sentiment: UBS says Nvidia’s strong Q4 results provide a favorable read?through for Corning (demand in data centers and advanced optics), bolstering expectations for Corning’s end?market strength. Corning Gets Strong Read Through From Nvidia Results, UBS Says
• Positive Sentiment: A CNBC piece argues Corning’s near?record price and elevated valuation are justified by durable end?market demand and improving fundamentals, which may attract momentum investors. Why Corning’s near record stock price and historically expensive valuation are worth it
• Neutral Sentiment: Coverage pieces (Yahoo Finance, Zacks) explain the stock’s ~45.9% run since the last earnings report and look at upcoming estimates — useful context but not new catalysts. Why Is Corning (GLW) Up 45.9% Since Last Earnings Report?
• Neutral Sentiment: Another analytical take from Zacks reiterates the same thesis on recent earnings and what to watch next (estimates/guidance). Why Is Corning (GLW) Up 45.9% Since Last Earnings Report?
• Negative Sentiment: CEO Wendell P. Weeks sold 137,514 shares (~$21.4M) on Feb. 26, reducing his stake by ~15.5% per the SEC filing; insider sales can trigger short?term caution among investors despite his remaining large holding. SEC Form 4 — Weeks insider sale

Corning Company 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.