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

Xcel Wealth Management LLC raised its holdings in shares of Corning Incorporated (NYSE:GLW) by 156.1% during the first quarter, according to its most recent filing with the 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 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Berbice Capital Management LLC bought a new position in shares of Corning during the fourth quarter valued at approximately $26,000. Basepoint Wealth LLC purchased a new position in Corning during the fourth quarter valued at approximately $26,000. MBM Wealth Consultants LLC bought a new position in Corning in the first quarter worth approximately $42,000. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in Corning in the third quarter worth approximately $25,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Corning during the fourth quarter worth $27,000. Institutional investors own 69.80% of the company’s stock.

Analyst Ratings Changes

GLW has been the topic of several recent research reports. JPMorgan Chase & Co. increased their target price on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research report on Thursday, May 7th. Oppenheimer boosted their price target on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research report on Thursday, May 7th. Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a research note on Saturday, June 6th. Bank of America raised their price objective on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, April 20th. Finally, UBS Group lifted their target price on Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research note on Friday, June 5th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $182.62.

Corning Price Performance

Shares of GLW opened at $228.14 on Friday. The company has a 50 day moving average of $183.60 and a two-hundred day moving average of $141.15. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a twelve month low of $51.32 and a twelve month high of $230.50. The company has a market cap of $196.35 billion, a price-to-earnings ratio of 109.16, a price-to-earnings-growth ratio of 2.95 and a beta of 1.15.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the firm posted $0.54 earnings per share. The business’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. As a group, analysts predict that Corning Incorporated will post 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.5%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is 53.59%.

Insider Activity at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief executive officer owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the sale, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 over the last ninety days. Corporate insiders own 0.25% of the company’s stock.

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.