Plancorp LLC Lowers Stock Holdings in Corning Incorporated $GLW

Plancorp LLC trimmed its stake in Corning Incorporated (NYSE:GLW) by 43.7% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 3,825 shares of the electronics maker’s stock after selling 2,963 shares during the period. Plancorp LLC’s holdings in Corning were worth $335,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning in the 3rd quarter valued at about $25,000. Strengthening Families & Communities LLC bought a new stake in shares of Corning in the 3rd quarter valued at about $27,000. Cornerstone Planning Group LLC raised its holdings in shares of Corning by 58.5% in the 3rd quarter. Cornerstone Planning Group LLC now owns 336 shares of the electronics maker’s stock valued at $30,000 after purchasing an additional 124 shares in the last quarter. JPL Wealth Management LLC bought a new stake in shares of Corning in the 3rd quarter valued at about $33,000. Finally, Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of Corning in the 4th quarter valued at about $35,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

GLW has been the subject of several recent research reports. 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. Bank of America boosted their price target on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. Oppenheimer boosted their price target on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. HSBC restated a “buy” rating and issued a $135.00 price target on shares of Corning in a report on Friday, February 13th. Finally, Barclays boosted their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $177.92.

Insider Activity

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 170,774 shares of company stock worth $28,148,435. Insiders own 0.25% of the company’s stock.

Corning Trading Up 0.8%

NYSE GLW opened at $208.07 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market cap of $179.07 billion, a PE ratio of 99.55, a price-to-earnings-growth ratio of 2.96 and a beta of 1.14. The company has a 50 day moving average price of $155.27 and a 200 day moving average price of $119.17. Corning Incorporated has a 52 week low of $46.83 and a 52 week high of $211.79.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’s revenue was up 18.1% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. The ex-dividend date is Friday, May 29th. Corning’s payout ratio is 53.59%.

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.