Plato Investment Management Ltd Purchases New Holdings in Corning Incorporated $GLW

Plato Investment Management Ltd acquired a new stake in shares of Corning Incorporated (NYSE:GLW) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 10,261 shares of the electronics maker’s stock, valued at approximately $2,606,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Bell Investment Advisors Inc acquired a new position in shares of Corning in the 2nd quarter valued at approximately $257,000. AMG National Trust Bank acquired a new stake in shares of Corning during the second quarter worth approximately $8,915,000. Roman Butler Fullerton & Co. acquired a new stake in shares of Corning during the second quarter worth approximately $848,000. Simplicity Wealth LLC bought a new stake in shares of Corning in the second quarter worth $1,509,000. Finally, Wealth Effects LLC bought a new stake in shares of Corning in the second quarter worth $1,225,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Stock Down 0.1%

Shares of Corning stock opened at $165.85 on Monday. The business’s fifty day moving average price is $176.82 and its two-hundred day moving average price is $161.92. 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 company has a market capitalization of $142.86 billion, a P/E ratio of 75.73, a PEG ratio of 2.12 and a beta of 1.14. Corning Incorporated has a 1-year low of $63.37 and a 1-year high of $271.78.

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

Corning Announces Dividend

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

Insider Buying and Selling at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of Corning 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 transaction, the senior vice president directly owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Company insiders own 0.25% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on GLW. Barclays reduced their price objective on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and dropped their target price for the stock from $205.00 to $175.00 in a research report on Sunday, August 2nd. Morgan Stanley cut their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research note on Wednesday, July 29th. Oppenheimer reduced their price target on shares of Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, July 29th. Finally, Bank of America lifted their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Eleven equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.08.

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.