Corning (NYSE:GLW) Shares Down 6.2% – Here’s What Happened

Corning Incorporated (NYSE:GLW) dropped 6.2% during trading on Monday . The stock traded as low as $126.68 and last traded at $128.38. Approximately 14,056,125 shares changed hands during mid-day trading, an increase of 23% from the average daily volume of 11,382,669 shares. The stock had previously closed at $136.81.

Analyst Ratings Changes

GLW has been the subject of several research reports. Wolfe Research set a $130.00 price objective on Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Mizuho set a $145.00 price target on shares of Corning in a report on Monday, February 23rd. Oppenheimer set a $120.00 price target on shares of Corning in a research report on Thursday, January 29th. UBS Group boosted their price objective on shares of Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Finally, Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat, Corning presently has an average rating of “Moderate Buy” and an average price target of $132.67.

Corning Stock Down 6.2%

The firm has a market capitalization of $110.28 billion, a price-to-earnings ratio of 69.77, a price-to-earnings-growth ratio of 2.16 and a beta of 1.05. The business has a 50 day moving average of $126.73 and a 200 day moving average of $99.99. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04.

Corning (NYSE:GLW) last posted its quarterly 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 net margin of 10.21% and a return on equity of 18.72%. The firm had revenue of $4.41 billion for the quarter, compared to the consensus estimate of $4.35 billion. During the same quarter in the previous year, the company earned $0.57 earnings per share. The business’s revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. On average, equities analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The firm 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 $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio is 60.87%.

Insider Activity

In other news, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the sale, the executive vice president directly owned 3,461 shares in the company, valued at approximately $450,691.42. This represents a 81.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, SVP Li Fang sold 9,797 shares of the stock in a transaction that occurred on Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total value of $1,112,057.47. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 233,201 shares of company stock valued at $32,614,558. 0.40% of the stock is owned by company insiders.

Institutional Trading of Corning

Large investors have recently bought and sold shares of the stock. Fund Advisors of America Inc FL acquired a new stake in shares of Corning in the 4th quarter valued at $1,085,000. World Investment Advisors increased its position in shares of Corning by 9.0% during the 4th quarter. World Investment Advisors now owns 31,276 shares of the electronics maker’s stock worth $2,739,000 after purchasing an additional 2,587 shares in the last quarter. Winthrop Partners WNY LLC bought a new position in Corning during the 4th quarter valued at about $1,541,000. Nalls Sherbakoff Group LLC bought a new position in Corning during the 4th quarter valued at about $45,000. Finally, DUTCH ASSET Corp acquired a new position in Corning in the fourth quarter valued at about $782,000. 69.80% of the stock is currently owned by institutional investors.

Corning Company 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.