Meyer Handelman Co. Has $53.81 Million Stock Holdings in Corning Incorporated $GLW

Meyer Handelman Co. decreased its position in shares of Corning Incorporated (NYSE:GLW) by 0.9% during the 1st quarter, Holdings Channel reports. The institutional investor owned 395,752 shares of the electronics maker’s stock after selling 3,580 shares during the quarter. Corning makes up approximately 1.7% of Meyer Handelman Co.’s portfolio, making the stock its 15th largest position. Meyer Handelman Co.’s holdings in Corning were worth $53,810,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Cottage Street Advisors LLC boosted its position in shares of Corning by 183.2% in the first quarter. Cottage Street Advisors LLC now owns 8,430 shares of the electronics maker’s stock valued at $1,146,000 after acquiring an additional 5,453 shares during the period. Louisiana State Employees Retirement System bought a new position in Corning during the first quarter worth about $5,412,000. Hoxton Planning & Management LLC acquired a new stake in Corning in the 1st quarter worth about $289,000. Silver Oak Securities Incorporated raised its stake in Corning by 83.9% in the 1st quarter. Silver Oak Securities Incorporated now owns 6,760 shares of the electronics maker’s stock worth $919,000 after purchasing an additional 3,084 shares in the last quarter. Finally, Ritholtz Wealth Management boosted its holdings in Corning by 118.9% in the 1st quarter. Ritholtz Wealth Management now owns 10,871 shares of the electronics maker’s stock valued at $1,478,000 after purchasing an additional 5,905 shares during the period. Institutional investors own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on GLW. Zacks Research cut shares of 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 research note on Monday, April 20th. Barclays increased their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Morgan Stanley set a $180.00 price objective on Corning in a report on Friday, May 8th. Finally, Mizuho upped their target price on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research report on Tuesday, May 12th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat.com, Corning currently has an average rating of “Moderate Buy” and an average price target of $182.62.

Corning Trading Up 10.8%

Shares of GLW stock opened at $228.14 on Friday. The stock’s fifty day moving average price is $183.60 and its two-hundred day moving average price is $141.15. The company has a market cap of $196.35 billion, a PE ratio of 109.16, a P/E/G ratio of 2.95 and a beta of 1.15. Corning Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $230.50. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last issued 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 analyst estimates of $4.30 billion. During the same quarter last year, the company posted $0.54 EPS. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced 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. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is currently 53.59%.

Insider Activity

In related news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. Corporate insiders own 0.25% of the company’s stock.

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.