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

Meyer Handelman Co. decreased its position in Corning Incorporated (NYSE:GLW) by 0.9% during the 1st quarter, according to its most recent filing with the SEC. The institutional investor owned 395,752 shares of the electronics maker’s stock after selling 3,580 shares during the period. Corning comprises 1.7% of Meyer Handelman Co.’s portfolio, making the stock its 15th biggest position. Meyer Handelman Co.’s holdings in Corning were worth $53,810,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of GLW. Berbice Capital Management LLC acquired a new position in Corning during the fourth quarter worth $26,000. Basepoint Wealth LLC bought a new stake in Corning during the 4th quarter worth about $26,000. MBM Wealth Consultants LLC bought a new stake in Corning during the 1st quarter worth about $42,000. Pinpoint Asset Management Singapore Pte. Ltd. acquired a new position in shares of Corning during the 3rd quarter worth about $25,000. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the 4th quarter worth about $27,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of recent research reports. Barclays lifted their target price on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Susquehanna raised their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research note on Wednesday, April 29th. Citigroup boosted their price target on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. UBS Group upped their price objective on Corning from $223.00 to $228.00 and gave the stock a “buy” rating in a research note on Friday, June 5th. Finally, Oppenheimer raised their target price on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note 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.com, Corning currently has an average rating of “Moderate Buy” and an average target price of $182.62.

Corning Price Performance

NYSE:GLW opened at $228.14 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 stock’s 50 day moving average price is $183.60 and its two-hundred day moving average price is $141.15. The firm has a market capitalization of $196.35 billion, a price-to-earnings ratio of 109.16, a P/E/G ratio of 2.95 and a beta of 1.15. Corning Incorporated has a 12-month low of $51.32 and a 12-month high of $230.50.

Corning (NYSE:GLW) last issued 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 return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the company posted $0.54 EPS. The firm’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. On average, analysts anticipate that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The business 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 $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. Corning’s dividend payout ratio is presently 53.59%.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction dated Tuesday, June 9th. The shares were 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 in the company, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares in the company, valued at approximately $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by 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.