Corning (NYSE:GLW) Stock Price Up 5.2% Following Analyst Upgrade

Corning Incorporated (NYSE:GLW)’s stock price traded up 5.2% on Monday after Bank of America raised their price target on the stock from $144.00 to $155.00. Bank of America currently has a buy rating on the stock. Corning traded as high as $135.26 and last traded at $131.0560. 13,423,710 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 11,236,461 shares. The stock had previously closed at $124.58.

Other equities research analysts have also recently issued reports about the stock. Mizuho set a $145.00 target price on shares of Corning in a research report on Monday, February 23rd. Barclays set a $100.00 price target on shares of Corning in a research report on Thursday, January 29th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Citigroup lifted their price objective on Corning from $120.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Finally, Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, February 17th. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $132.67.

Insider Activity

In related news, EVP Lewis A. Steverson sold 15,366 shares of Corning stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the completion of the transaction, the executive vice president directly owned 3,461 shares of the company’s stock, valued at $450,691.42. This trade represents a 81.62% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Wendell P. Weeks sold 137,514 shares of the business’s stock in a transaction dated Thursday, February 26th. The stock was sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the sale, the chief executive officer directly owned 750,585 shares in the company, valued at $116,618,391.45. The trade was a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders have sold 233,201 shares of company stock worth $32,614,558. 0.32% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Beese Fulmer Investment Management Inc. boosted its holdings in Corning by 2.5% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after acquiring an additional 92 shares in the last quarter. 3Chopt Investment Partners LLC increased its holdings in shares of Corning by 1.0% during the fourth quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock valued at $897,000 after acquiring an additional 97 shares in the last quarter. Patten & Patten Inc. TN raised its position in shares of Corning by 0.6% in the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after purchasing an additional 100 shares during the last quarter. Vermillion Wealth Management Inc. raised its position in shares of Corning by 32.8% in the 4th quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker’s stock worth $36,000 after purchasing an additional 100 shares during the last quarter. Finally, Joel Isaacson & Co. LLC boosted its stake in Corning by 0.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock worth $1,797,000 after purchasing an additional 102 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Trading Up 5.2%

The stock’s 50 day moving average is $122.00 and its 200-day moving average is $97.66. The company has a market cap of $112.44 billion, a P/E ratio of 71.23, a PEG ratio of 1.97 and a beta of 1.04. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. Corning had a net margin of 10.21% and a return on equity of 18.72%. Corning’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the business earned $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s dividend payout ratio (DPR) is 60.87%.

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.