Plancorp LLC Cuts Holdings in Corning Incorporated $GLW

Plancorp LLC reduced its position in Corning Incorporated (NYSE:GLW) by 43.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. 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.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Western Wealth Management LLC boosted its position in shares of Corning by 1.7% during the 4th quarter. Western Wealth Management LLC now owns 25,812 shares of the electronics maker’s stock valued at $2,260,000 after acquiring an additional 422 shares during the last quarter. Allworth Financial LP raised its stake in Corning by 22.1% during the fourth quarter. Allworth Financial LP now owns 26,626 shares of the electronics maker’s stock valued at $2,331,000 after purchasing an additional 4,817 shares in the last quarter. Freemont Management S.A. bought a new position in Corning during the fourth quarter valued at $1,559,000. Alexander Randolph Advisory Inc. bought a new position in Corning during the fourth quarter valued at $203,000. Finally, Catalyst Financial Partners LLC grew its stake in shares of Corning by 9.4% in the 4th quarter. Catalyst Financial Partners LLC now owns 11,202 shares of the electronics maker’s stock worth $981,000 after buying an additional 963 shares in the last quarter. 69.80% of the stock is owned by institutional investors.

Insider Activity

In related news, CEO Wendell P. Weeks sold 137,514 shares of the firm’s stock in a transaction that occurred on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the sale, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at approximately $116,618,391.45. This trade represents a 15.48% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 170,774 shares of company stock valued at $28,148,435 in the last quarter. 0.25% of the stock is currently owned by company insiders.

Corning Stock Up 0.8%

NYSE GLW opened at $208.07 on Friday. Corning Incorporated has a 52 week low of $46.83 and a 52 week high of $211.79. 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 company has a fifty day moving average of $155.27 and a two-hundred day moving average of $119.17. The firm has a market capitalization of $179.07 billion, a price-to-earnings ratio of 99.55, a PEG ratio of 2.96 and a beta of 1.14.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The firm had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the company earned $0.54 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The company also recently declared 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. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. Corning’s payout ratio is currently 53.59%.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Truist Financial boosted their target price on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. HSBC reiterated a “buy” rating and issued a $135.00 price target on shares of Corning in a research report on Friday, February 13th. UBS Group lifted their price target on Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Wolfe Research set a $130.00 price target on Corning and gave the stock an “outperform” rating in a research report on Tuesday, January 27th. Finally, Morgan Stanley set a $180.00 price objective on Corning in a research note on Friday, May 8th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have issued a Hold rating to the company. According to MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $177.92.

About Corning

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.