Baird Financial Group Inc. Buys 133,571 Shares of Corning Incorporated $GLW

Key Points

• Baird Financial Group nearly doubled its Corning stake in the second quarter, purchasing 133,571 additional shares for a total holding of 271,829 shares valued at approximately $69.4 million. Institutional investors collectively own 69.8% of Corning.
• Analyst sentiment remains generally positive but mixed: Corning has a “Moderate Buy” consensus rating from 17 analysts and an average price target of $178.64, while several firms recently reduced their targets and one downgraded the stock to “Hold.”
• Corning reported quarterly earnings and revenue above estimates, with revenue rising 17.1% year over year, and announced a quarterly dividend of $0.28 per share. An executive vice president sold 13,100 shares, reducing his position by 46.5%.

Baird Financial Group Inc. grew its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 96.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 271,829 shares of the electronics maker's stock after acquiring an additional 133,571 shares during the period. Baird Financial Group Inc.'s holdings in Corning were worth $69,433,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Berbice Capital Management LLC acquired a new stake in Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning in the 4th quarter valued at $26,000. Atwood & Palmer Inc. acquired a new position in Corning in the 2nd quarter valued at $26,000. Rogco LP bought a new position in Corning during the 2nd quarter worth $27,000. Finally, Kemnay Advisory Services Inc. bought a new position in Corning during the 4th quarter worth $27,000. Institutional investors and hedge funds own 69.80% of the company's stock.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of the business's stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the transaction, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.25% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on GLW. China Renaissance raised shares of Corning from a "hold" rating to a "buy" rating and set a $238.00 target price for the company in a research report on Tuesday. JPMorgan Chase & Co. lowered their price target on shares of Corning from $200.00 to $170.00 and set a "neutral" rating on the stock in a research report on Wednesday, July 29th. Mizuho dropped their price objective on shares of Corning from $270.00 to $210.00 and set an "outperform" rating for the company in a research note on Wednesday, July 29th. Oppenheimer cut their price objective on shares of Corning from $230.00 to $200.00 and set an "outperform" rating for the company in a report on Wednesday, July 29th. Finally, Wall Street Zen lowered shares of Corning from a "buy" rating to a "hold" rating in a research report on Monday, August 24th. Eleven research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $178.64.

Corning Stock Performance

NYSE:GLW opened at $168.66 on Thursday. The company has a market cap of $145.28 billion, a price-to-earnings ratio of 77.01, a PEG ratio of 2.12 and a beta of 1.16. Corning Incorporated has a fifty-two week low of $72.72 and a fifty-two week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The stock has a fifty day moving average price of $159.88 and a 200-day moving average price of $166.07.

Corning (NYSE:GLW - Get Free Report) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts' consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion for the quarter, compared to analysts' expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning's revenue was up 17.1% on a year-over-year basis. During the same quarter last year, the business earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

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

More Corning News

Here are the key news stories impacting Corning this week:

• Positive Sentiment: Corning and Verizon signed a multi-year, multi-billion-dollar agreement covering more than 80 million miles of high-density optical fiber and connectivity solutions from 2027 through 2032. The deal provides longer-term revenue visibility and supports Verizon’s broadband expansion and AI-related network investments. Verizon signs optical fiber deal with Corning to expand broadband, support AI growth
• Positive Sentiment: The Verizon contract adds to Corning’s previously announced relationships with Meta, Amazon and NVIDIA, reinforcing the view that optical communications is becoming a key growth engine as data-center and AI network demand expands. Verizon and Corning Just Signed an 80 Million Mile Fiber Deal to Wire the AI Boom
• Positive Sentiment: Analyst sentiment also improved, with China Renaissance upgrading GLW from “hold” to “buy” and assigning a $238 price target. Optical-infrastructure stocks broadly rallied alongside Corning. Optical Stocks Surge as Corning Inks Multibillion-Dollar Supply Deal With Verizon
• Neutral Sentiment: The agreement extends Corning’s long-standing relationship with Verizon, but deliveries do not begin until 2027. The near-term financial impact will therefore depend on existing backlogs and current demand. Corning’s latest reported quarter showed 17.1% year-over-year revenue growth and earnings above consensus.
• Negative Sentiment: After the sharp rally, valuation and execution risks are more significant. Corning trades at an elevated earnings multiple, leaving less room for disappointment from manufacturing delays, weaker communications demand or a broader pullback in AI-related stocks. Recent insider activity also showed sales rather than purchases by several executives.

Corning Profile

Corning Incorporated NYSE: GLW is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.

Corning's products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.

The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.

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