Xcel Wealth Management LLC Buys 11,726 Shares of Corning Incorporated $GLW

Key Points

• Xcel Wealth Management increased its Corning stake by 156.1% in Q1, buying 11,726 additional shares and bringing its total holdings to 19,239 shares worth about $2.62 million.
• Corning reported stronger-than-expected quarterly results, with EPS of $0.70 topping estimates and revenue of $4.34 billion, up 18.1% year over year; the company also guided Q2 2026 EPS to $0.73-$0.77.
• The company announced a quarterly dividend of $0.28 per share, while analysts remain generally positive with a consensus rating of “Moderate Buy” and an average price target of $182.62.

Xcel Wealth Management LLC raised its stake in shares of Corning Incorporated (NYSE:GLW - Free Report) by 156.1% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,239 shares of the electronics maker's stock after purchasing an additional 11,726 shares during the period. Xcel Wealth Management LLC's holdings in Corning were worth $2,616,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of the stock. Merit Financial Group LLC lifted its position in Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker's stock worth $3,940,000 after buying an additional 6,493 shares during the last quarter. Security National Bank increased its position in Corning by 340.4% during the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker's stock valued at $6,350,000 after acquiring an additional 56,056 shares during the last quarter. Natixis Advisors LLC raised its stake in shares of Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker's stock valued at $39,367,000 after acquiring an additional 116,583 shares during the period. Three Seasons Wealth LLC purchased a new stake in shares of Corning in the fourth quarter valued at $1,750,000. Finally, RiverFront Investment Group LLC raised its stake in shares of Corning by 65.4% in the fourth quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker's stock valued at $1,289,000 after acquiring an additional 5,818 shares during the period. 69.80% of the stock is owned by institutional investors.

Insider Buying and Selling at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president owned 10,174 shares of the company's stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP John Z. Zhang sold 10,000 shares of the business's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the completion of 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 disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is owned by corporate insiders.

Corning Stock Up 10.8%

Shares of GLW opened at $228.14 on Friday. The firm has a fifty day moving average price of $183.60 and a 200-day moving average price of $141.15. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The firm has a market capitalization of $196.35 billion, a P/E 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 - Get Free Report) last posted its quarterly 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 company had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same quarter last year, the firm posted $0.54 EPS. The firm's revenue 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 research analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The business also recently announced 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 of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. Corning's dividend payout ratio (DPR) is 53.59%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Weiss Ratings reaffirmed a "buy (b-)" rating on shares of Corning in a research note on Friday, May 15th. UBS Group increased their price objective on shares of Corning from $223.00 to $228.00 and gave the stock a "buy" rating in a research report on Friday, June 5th. Oppenheimer raised their price objective on shares of Corning from $120.00 to $210.00 and gave the stock an "outperform" rating in a research note on Thursday, May 7th. Truist Financial boosted their target price on Corning from $149.00 to $205.00 and gave the company a "hold" rating in a research report on Monday. Finally, Zacks Research cut Corning from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, May 26th. Ten investment analysts have rated the stock with a Buy rating and six have issued a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $182.62.

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.

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