Eliot Finkel Investment Counsel LLC Sells 2,695 Shares of Corning Incorporated $GLW

Eliot Finkel Investment Counsel LLC decreased its stake in Corning Incorporated (NYSE:GLW) by 1.9% in the 1st quarter, according to 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 period. Corning makes up 10.4% of Eliot Finkel Investment Counsel LLC’s portfolio, making the stock its biggest position. Eliot Finkel Investment Counsel LLC’s holdings in Corning were worth $19,165,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of GLW. Beacon Financial Advisory LLC purchased a new stake in shares of Corning during the 1st quarter valued at about $240,000. QRG Capital Management Inc. boosted its holdings in Corning by 58.7% in the 1st quarter. QRG Capital Management Inc. now owns 112,932 shares of the electronics maker’s stock worth $15,355,000 after acquiring an additional 41,785 shares during the period. HB Wealth Management LLC grew its position in Corning by 3.3% in the first quarter. HB Wealth Management LLC now owns 72,301 shares of the electronics maker’s stock valued at $9,831,000 after acquiring an additional 2,291 shares in the last quarter. Moran Wealth Management LLC acquired a new stake in Corning in the first quarter valued at approximately $408,000. Finally, Plimoth Trust Co. LLC purchased a new stake in shares of Corning during the first quarter valued at approximately $371,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Barclays boosted their target price on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Oppenheimer raised their price target on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a report on Thursday, May 7th. Citigroup lifted their price target on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Bank of America boosted their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. Finally, Mizuho upped their price objective on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday. Ten analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $186.46.

Corning Stock Performance

Shares of GLW opened at $196.12 on Friday. The firm has a market cap of $168.79 billion, a price-to-earnings ratio of 93.84, a PEG ratio of 2.82 and a beta of 1.09. 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 business’s 50 day moving average is $190.59 and its two-hundred day moving average is $146.38. Corning Incorporated has a 52-week low of $51.32 and a 52-week high of $271.78.

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

Corning Announces Dividend

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

Insider Activity at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction dated Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 160,655 shares of company stock worth $30,692,560 over the last 90 days. Company insiders own 0.25% of the company’s stock.

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.