Plancorp LLC Lowers Position in Corning Incorporated $GLW

Plancorp LLC lessened its stake in Corning Incorporated (NYSE:GLW) by 2.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 8,991 shares of the electronics maker’s stock after selling 200 shares during the quarter. Plancorp LLC’s holdings in Corning were worth $473,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Investment Management Corp VA ADV lifted its holdings in shares of Corning by 165.9% in the first quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker’s stock worth $34,000 after buying an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC lifted its holdings in shares of Corning by 90.1% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker’s stock worth $34,000 after buying an additional 353 shares in the last quarter. Resources Management Corp CT ADV lifted its holdings in shares of Corning by 66.7% in the first quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker’s stock worth $34,000 after buying an additional 300 shares in the last quarter. Gen Wealth Partners Inc lifted its holdings in shares of Corning by 151.7% in the first quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker’s stock worth $35,000 after buying an additional 455 shares in the last quarter. Finally, Banque Transatlantique SA purchased a new position in shares of Corning in the first quarter worth $34,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Trading Down 1.0%

GLW stock opened at $79.11 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. Corning Incorporated has a twelve month low of $37.31 and a twelve month high of $81.58. The stock has a market capitalization of $67.76 billion, a price-to-earnings ratio of 84.15, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The firm’s fifty day simple moving average is $67.50 and its two-hundred day simple moving average is $54.44.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.03. Corning had a net margin of 5.77% and a return on equity of 17.27%. The business had revenue of $3.86 billion for the quarter, compared to analysts’ expectations of $3.84 billion. During the same quarter in the previous year, the business posted $0.47 earnings per share. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current year.

Insider Transactions at Corning

In other news, SVP Jaymin Amin sold 17,721 shares of the company’s stock in a transaction dated Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total value of $1,367,706.78. Following the transaction, the senior vice president directly owned 88,722 shares in the company, valued at approximately $6,847,563.96. This represents a 16.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Avery H. Nelson III sold 36,240 shares of the company’s stock in a transaction dated Wednesday, July 30th. The stock was sold at an average price of $62.26, for a total transaction of $2,256,302.40. Following the completion of the transaction, the chief operating officer owned 64,838 shares in the company, valued at approximately $4,036,813.88. The trade was a 35.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 181,671 shares of company stock valued at $11,816,899. Company insiders own 0.40% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on GLW shares. UBS Group upped their price target on shares of Corning from $84.00 to $91.00 and gave the company a “buy” rating in a research note on Tuesday. Wall Street Zen downgraded shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Saturday, September 13th. JPMorgan Chase & Co. upped their price target on shares of Corning from $62.00 to $65.00 and gave the company an “overweight” rating in a research note on Friday, July 25th. Citigroup upped their price target on shares of Corning from $72.00 to $93.00 and gave the company a “buy” rating in a research note on Wednesday. Finally, Wolfe Research started coverage on shares of Corning in a research note on Tuesday, July 8th. They set an “outperform” rating on the stock. One equities research analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and two have given a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.08.

Corning Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.