Plimoth Trust Co. LLC Purchases New Stake in Corning Incorporated $GLW

Plimoth Trust Co. LLC acquired a new stake in shares of Corning Incorporated (NYSE:GLW) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 2,725 shares of the electronics maker’s stock, valued at approximately $371,000.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning in the 3rd quarter valued at about $25,000. Berbice Capital Management LLC acquired a new position in Corning in the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in Corning in the fourth quarter worth about $26,000. Kemnay Advisory Services Inc. bought a new stake in Corning in the fourth quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in Corning in the fourth quarter valued at about $31,000. Institutional investors own 69.80% of the company’s stock.

Corning Stock Performance

Shares of NYSE GLW opened at $196.12 on Friday. 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 firm’s 50-day moving average price is $190.59 and its two-hundred day moving average price is $146.38. Corning Incorporated has a 52-week low of $51.32 and a 52-week high of $271.78. The stock has a market capitalization of $168.79 billion, a P/E ratio of 93.84, a P/E/G ratio of 2.82 and a beta of 1.09.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 0.6%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is presently 53.59%.

Wall Street Analyst Weigh In

A number of research analysts have commented on GLW shares. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Bank of America boosted their price target on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. Barclays upped their price target on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Truist Financial raised their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Ten equities research 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, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $186.46.

Insider Transactions at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president owned 10,174 shares in the company, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer owned 908,353 shares of the company’s stock, valued at $169,371,500.38. This represents a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 160,655 shares of company stock valued at $30,692,560 over the last three months. 0.25% of the stock is currently owned by company insiders.

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.