Meyer Handelman Co. Sells 5,000 Shares of Corning Incorporated $GLW

Key Points

• Meyer Handelman Co. has reduced its stake in Corning Incorporated by 1.2%, selling 5,000 shares, and now owns 423,842 shares worth approximately $22.29 million.
• Recent analyst ratings for Corning show mixed sentiments, with one strong buy, eleven buy, and two hold ratings; its average price target is $70.08.
• Corning's latest quarterly earnings reported an EPS of $0.60, surpassing estimates, and the company anticipates Q3 2025 EPS guidance between $0.630-0.670.

Meyer Handelman Co. decreased its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 1.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 423,842 shares of the electronics maker's stock after selling 5,000 shares during the quarter. Meyer Handelman Co.'s holdings in Corning were worth $22,290,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in GLW. Investment Management Corp VA ADV lifted its holdings in Corning by 165.9% during the 1st quarter. Investment Management Corp VA ADV now owns 742 shares of the electronics maker's stock valued at $34,000 after buying an additional 463 shares in the last quarter. Annis Gardner Whiting Capital Advisors LLC raised its holdings in shares of Corning by 90.1% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 745 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 353 shares in the last quarter. Banque Transatlantique SA bought a new stake in shares of Corning in the 1st quarter valued at about $34,000. Resources Management Corp CT ADV raised its holdings in shares of Corning by 66.7% in the 1st quarter. Resources Management Corp CT ADV now owns 750 shares of the electronics maker's stock valued at $34,000 after purchasing an additional 300 shares in the last quarter. Finally, Gen Wealth Partners Inc raised its holdings in shares of Corning by 151.7% in the 1st quarter. Gen Wealth Partners Inc now owns 755 shares of the electronics maker's stock valued at $35,000 after purchasing an additional 455 shares in the last quarter. Institutional investors own 69.80% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently commented on GLW. Wall Street Zen lowered shares of Corning from a "strong-buy" rating to a "hold" rating in a report on Saturday, September 13th. UBS Group boosted their price target on shares of Corning from $84.00 to $91.00 and gave the company a "buy" rating in a report on Tuesday. Wolfe Research began coverage on shares of Corning in a report on Tuesday, July 8th. They issued an "outperform" rating for the company. Oppenheimer restated an "outperform" rating and issued a $72.00 price target (up previously from $55.00) on shares of Corning in a report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Corning from $62.00 to $65.00 and gave the company an "overweight" rating in a report on Friday, July 25th. One analyst has rated the stock with a Strong Buy rating, eleven have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $70.08.

Insider Activity at Corning

In other Corning news, SVP Jaymin Amin sold 17,721 shares of the business's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $77.18, for a total transaction of $1,367,706.78. Following the sale, the senior vice president owned 88,722 shares of the company's stock, valued at approximately $6,847,563.96. The trade was a 16.65% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, SVP Michael Paul O'day sold 14,879 shares of the business's stock in a transaction that occurred on Wednesday, July 30th. The stock was sold at an average price of $62.36, for a total transaction of $927,854.44. Following the sale, the senior vice president directly owned 35,743 shares in the company, valued at approximately $2,228,933.48. This represents a 29.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 181,671 shares of company stock worth $11,816,899 in the last 90 days. 0.40% of the stock is owned by insiders.

Corning Trading Down 1.0%

NYSE GLW opened at $79.11 on Friday. The company has a quick ratio of 0.93, a current ratio of 1.50 and a debt-to-equity ratio of 0.58. The firm has a market cap of $67.76 billion, a PE ratio of 84.15, a price-to-earnings-growth ratio of 1.78 and a beta of 1.09. The company has a 50 day moving average price of $67.50 and a 200 day moving average price of $54.44. Corning Incorporated has a 52 week low of $37.31 and a 52 week high of $81.58.

Corning (NYSE:GLW - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The electronics maker reported $0.60 EPS for the quarter, topping the consensus estimate of $0.57 by $0.03. The firm had revenue of $3.86 billion during the quarter, compared to analyst estimates of $3.84 billion. Corning had a net margin of 5.77% and a return on equity of 17.27%. During the same quarter in the previous year, the business posted $0.47 EPS. Corning has set its Q3 2025 guidance at 0.630-0.670 EPS. As a group, sell-side analysts forecast that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.

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