Corning (NYSE:GLW) Trading Down 4.6% – Should You Sell?

Shares of Corning Incorporated (NYSE:GLW) fell 4.6% during trading on Wednesday . The company traded as low as $150.70 and last traded at $152.52. Approximately 10,559,944 shares traded hands during trading, a decline of 18% from the average session volume of 12,917,043 shares. The stock had previously closed at $159.90.

Wall Street Analyst Weigh In

GLW has been the subject of a number of recent research reports. Susquehanna increased their price objective on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Morgan Stanley decreased their target price on shares of Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Oppenheimer lowered their price target on shares of Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. UBS Group restated a “buy” rating and issued a $196.00 price target on shares of Corning in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. decreased their price objective on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Eleven research analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat, Corning has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Performance

The stock has a market capitalization of $129.13 billion, a P/E ratio of 68.45, a PEG ratio of 1.95 and a beta of 1.14. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The company has a 50-day moving average price of $175.43 and a two-hundred day moving average price of $163.44.

Corning (NYSE:GLW) last released its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter last year, the firm earned $0.60 EPS. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts expect that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is 51.14%.

Insider Buying and Selling at Corning

In other news, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on 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 sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. This represents a 9.92% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Berbice Capital Management LLC purchased a new position in Corning during the fourth quarter valued at $26,000. Basepoint Wealth LLC bought a new position in shares of Corning in the fourth quarter worth about $26,000. Atwood & Palmer Inc. bought a new position in shares of Corning in the second quarter worth about $26,000. Kemnay Advisory Services Inc. purchased a new position in shares of Corning during the 4th quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new position in shares of Corning during the 4th quarter valued at about $31,000. 69.80% of the stock is owned by hedge funds and other 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.