Corning (NYSE:GLW) Trading Up 1.2% – Here’s Why

Shares of Corning Incorporated (NYSE:GLW) traded up 1.2% on Friday . The company traded as high as $140.10 and last traded at $136.9440. 8,317,818 shares changed hands during mid-day trading, a decline of 27% from the average session volume of 11,389,881 shares. The stock had previously closed at $135.32.

Analyst Ratings Changes

A number of equities analysts have issued reports on GLW shares. JPMorgan Chase & Co. increased their price target on Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Fox Advisors downgraded shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Citigroup increased their target price on shares of Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Finally, Morgan Stanley raised their price target on shares of Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $132.67.

Corning Stock Up 1.2%

The stock has a market cap of $117.64 billion, a price-to-earnings ratio of 74.43, a PEG ratio of 2.16 and a beta of 1.05. The stock has a 50 day simple moving average of $126.73 and a 200 day simple moving average of $99.82. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last issued its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The company had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same period in the prior year, the firm earned $0.57 earnings per share. Corning’s revenue for the quarter was up 13.9% on a year-over-year basis. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, analysts expect that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, February 27th. This represents a $1.12 annualized dividend and a yield of 0.8%. Corning’s dividend payout ratio is presently 60.87%.

Insider Transactions at Corning

In other news, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $155.37, for a total transaction of $21,365,550.18. Following the completion of the transaction, the chief executive officer directly owned 750,585 shares in the company, valued at $116,618,391.45. This trade represents a 15.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Li Fang sold 9,797 shares of the business’s stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total transaction of $1,112,057.47. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 233,201 shares of company stock valued at $32,614,558. Corporate insiders own 0.40% of the company’s stock.

Institutional Trading of Corning

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lansforsakringar Fondforvaltning AB publ lifted its position in shares of Corning by 4.9% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock worth $21,471,000 after buying an additional 12,297 shares in the last quarter. Hartline Investment Corp grew its holdings in shares of Corning by 113.2% in the third quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker’s stock valued at $24,229,000 after acquiring an additional 156,843 shares in the last quarter. Natixis Advisors LLC increased its position in shares of Corning by 32.1% during 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 last quarter. Schroder Investment Management Group increased its position in shares of Corning by 638.0% during the second quarter. Schroder Investment Management Group now owns 546,407 shares of the electronics maker’s stock valued at $28,736,000 after acquiring an additional 472,365 shares during the last quarter. Finally, Caprock Group LLC bought a new stake in Corning during the third quarter worth $3,355,000. 69.80% of the stock is owned by institutional investors.

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.