Plimoth Trust Co. LLC acquired a new position in shares of Corning Incorporated (NYSE:GLW – Free Report) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 2,725 shares of the electronics maker’s stock, valued at approximately $371,000.
Several other large investors have also recently added to or reduced their stakes in GLW. Berbice Capital Management LLC bought a new stake in Corning during the 4th quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in Corning during the 4th quarter worth $26,000. MBM Wealth Consultants LLC bought a new position in shares of Corning in the first quarter worth $42,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Corning in the third quarter worth $25,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the fourth quarter valued at $27,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.
Insider Buying and Selling at Corning
In other news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This trade represents a 24.27% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock valued at $30,692,560 over the last 90 days. 0.25% of the stock is owned by insiders.
Corning Trading Down 0.3%
Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the company earned $0.54 earnings per share. The firm’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, research analysts anticipate that Corning Incorporated will post 3.19 EPS for the current fiscal year.
Corning Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s payout ratio is 53.59%.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on GLW shares. UBS Group lifted their price objective on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Mizuho raised their target price on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday. Zacks Research downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Barclays upped their price target on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Wall Street Zen cut shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and a consensus price target of $186.46.
Read Our Latest Analysis on Corning
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.
Read More
- Five stocks we like better than Corning
- AST SpaceMobile’s Japan Catalyst Puts Its Rollout Story Back in Focus
- Gold and Silver Recovery—3 Precious Metals Stocks for H2 2026
- Klarna’s Google Court Win Could Give Its BNPL Story a Needed Cash Catalyst
- Why Kroger’s Giant Eagle Deal Could Change Everything
Want to see what other hedge funds are holding GLW? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Corning Incorporated (NYSE:GLW – Free Report).
Receive News & Ratings for Corning Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Corning and related companies with MarketBeat.com's FREE daily email newsletter.
