Meyer Handelman Co. Cuts Stake in Corning Incorporated $GLW

Meyer Handelman Co. reduced its holdings in shares of Corning Incorporated (NYSE:GLW) by 5.4% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 401,032 shares of the electronics maker’s stock after selling 22,810 shares during the period. Meyer Handelman Co.’s holdings in Corning were worth $32,897,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in GLW. Vanguard Group Inc. boosted its stake in shares of Corning by 1.6% in the 2nd quarter. Vanguard Group Inc. now owns 97,952,109 shares of the electronics maker’s stock valued at $5,151,301,000 after purchasing an additional 1,582,895 shares in the last quarter. State Street Corp boosted its position in Corning by 1.4% during the second quarter. State Street Corp now owns 36,568,973 shares of the electronics maker’s stock valued at $1,923,162,000 after buying an additional 509,013 shares during the period. Geode Capital Management LLC grew its stake in shares of Corning by 0.6% during the second quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after buying an additional 112,739 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of Corning by 8.1% during the second quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock valued at $724,432,000 after buying an additional 1,036,988 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Corning in the second quarter worth about $534,936,000. 69.80% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts recently weighed in on GLW shares. Weiss Ratings restated a “buy (b-)” rating on shares of Corning in a report on Monday. Morgan Stanley increased their price objective on Corning from $82.00 to $98.00 and gave the company an “equal weight” rating in a research note on Wednesday, December 17th. UBS Group restated a “buy” rating and issued a $109.00 target price (up previously from $100.00) on shares of Corning in a report on Friday, November 21st. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Finally, Wall Street Zen cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Saturday, September 13th. One analyst has rated the stock with a Strong Buy rating, eleven have given a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $93.09.

Corning Stock Performance

Shares of GLW stock opened at $89.58 on Friday. The stock has a fifty day moving average of $86.31 and a 200 day moving average of $72.84. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $96.64. The firm has a market capitalization of $76.80 billion, a price-to-earnings ratio of 56.69, a PEG ratio of 1.96 and a beta of 1.11. The company has a quick ratio of 1.00, a current ratio of 1.56 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its quarterly earnings data on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. Corning had a net margin of 9.16% and a return on equity of 18.12%. The business had revenue of $4.10 billion for the quarter, compared to the consensus estimate of $4.24 billion. During the same period in the previous year, the firm earned $0.54 EPS. The company’s quarterly revenue was up 20.9% compared to the same quarter last year. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, December 12th. Investors of record on Friday, November 14th were paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend was Friday, November 14th. Corning’s dividend payout ratio is presently 70.89%.

Insider Activity at Corning

In related news, EVP Lewis A. Steverson sold 23,142 shares of Corning stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $89.05, for a total transaction of $2,060,795.10. Following the sale, the executive vice president directly owned 17,575 shares in the company, valued at $1,565,053.75. The trade was a 56.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Stefan Becker sold 12,100 shares of the company’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total value of $1,104,488.00. Following the completion of the sale, the senior vice president directly owned 5,049 shares in the company, valued at approximately $460,872.72. The trade was a 70.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 156,135 shares of company stock valued at $14,088,769. 0.40% of the stock is currently owned by corporate insiders.

Corning 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.