Corning (NYSE:GLW) Shares Up 6.1% – Time to Buy?

Corning Incorporated (NYSE:GLW) shares traded up 6.1% on Monday . The stock traded as high as $147.94 and last traded at $146.67. 12,342,574 shares were traded during mid-day trading, a decline of 6% from the average daily volume of 13,119,972 shares. The stock had previously closed at $138.25.

Wall Street Analyst Weigh In

GLW has been the subject of a number of recent research reports. Oppenheimer reduced their price objective on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a research report on Saturday, July 18th. Barclays decreased their price objective on Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Bank of America raised their price objective on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Finally, Mizuho reduced their target price on shares of Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Stock Down 2.0%

The company has a 50-day moving average of $181.24 and a 200-day moving average of $158.13. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The company has a market capitalization of $134.92 billion, a price-to-earnings ratio of 71.52, a price-to-earnings-growth ratio of 1.89 and a beta of 1.14.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities analysts predict that Corning Incorporated will post 3.26 earnings per share for the current fiscal year.

Corning Announces Dividend

The company 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 $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s dividend payout ratio (DPR) is 51.14%.

Insider Buying and Selling at Corning

In related news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. This trade represents a 22.49% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of Corning

A number of hedge funds and other institutional investors have recently made changes to their positions in GLW. Trust Asset Management LLC lifted its position in Corning by 1.0% during the second quarter. Trust Asset Management LLC now owns 8,648 shares of the electronics maker’s stock valued at $2,209,000 after purchasing an additional 85 shares during the period. First Community Trust NA purchased a new stake in shares of Corning in the second quarter worth about $72,000. Regent Peak Wealth Advisors LLC grew its holdings in Corning by 2.0% during the second quarter. Regent Peak Wealth Advisors LLC now owns 3,569 shares of the electronics maker’s stock worth $912,000 after acquiring an additional 70 shares during the period. Annex Advisory Services LLC acquired a new stake in Corning during the second quarter worth about $284,000. Finally, Tema ETFs LLC raised its position in Corning by 10.5% during the second quarter. Tema ETFs LLC now owns 13,723 shares of the electronics maker’s stock valued at $3,505,000 after acquiring an additional 1,305 shares in the last quarter. Institutional investors and hedge funds own 69.80% 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.