Plato Investment Management Ltd Makes New Investment in Corning Incorporated $GLW

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

Other large investors have also modified their holdings of the company. Berbice Capital Management LLC acquired a new stake in shares of Corning in the fourth quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new position in Corning during the fourth quarter worth approximately $26,000. Atwood & Palmer Inc. acquired a new position in Corning during the second quarter worth approximately $26,000. Kemnay Advisory Services Inc. purchased a new position in Corning during the fourth quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in Corning during the fourth quarter worth approximately $31,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Trading Down 0.1%

NYSE:GLW opened at $165.85 on Monday. The business’s 50-day moving average is $176.82 and its two-hundred day moving average is $161.92. The firm has a market capitalization of $142.86 billion, a PE ratio of 75.73, a price-to-earnings-growth ratio of 2.12 and a beta of 1.14. Corning Incorporated has a 12 month low of $63.37 and a 12 month high of $271.78. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts predict that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

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

Analyst Ratings Changes

Several analysts have recently issued reports on GLW shares. Bank of America boosted their price objective on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Morgan Stanley reduced their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a report on Wednesday, July 29th. Mizuho lowered their price target on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a research report on Wednesday, July 29th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. cut their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a report on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Insider Buying and Selling

In other news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president directly owned 94,400 shares in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Company insiders own 0.25% of the company’s stock.

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.