Eliot Finkel Investment Counsel LLC Trims Stake in Corning Incorporated $GLW

Eliot Finkel Investment Counsel LLC lessened its holdings in Corning Incorporated (NYSE:GLW) by 1.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,950 shares of the electronics maker’s stock after selling 2,695 shares during the quarter. Corning makes up about 10.4% of Eliot Finkel Investment Counsel LLC’s investment portfolio, making the stock its largest holding. Eliot Finkel Investment Counsel LLC’s holdings in Corning were worth $19,165,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in GLW. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new stake in shares of Corning during the third quarter worth $25,000. Berbice Capital Management LLC acquired a new position in shares of Corning in the 4th quarter valued at about $26,000. Basepoint Wealth LLC bought a new stake in shares of Corning during the 4th quarter valued at about $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning during the 4th quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC acquired a new stake in Corning during the fourth quarter worth about $31,000. Institutional investors own 69.80% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group raised their target price on shares of Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a report on Friday, June 5th. Susquehanna upped their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Morgan Stanley set a $180.00 price target on Corning in a research report on Friday, May 8th. JPMorgan Chase & Co. raised their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Oppenheimer boosted their price objective on Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $186.46.

Insiders Place Their Bets

In other Corning news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the sale, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value 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 trade represents a 9.92% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Corning Trading Down 0.3%

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 company’s 50-day moving average price is $190.59 and its 200 day moving average price is $146.38. The company has a market cap of $168.79 billion, a PE ratio of 93.84, a P/E/G ratio of 2.82 and a beta of 1.09. Corning Incorporated has a fifty-two week low of $51.32 and a fifty-two week high of $271.78.

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

Corning Dividend Announcement

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

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.