Corning (NYSE:GLW) Stock Price Down 2.6% – Time to Sell?

Shares of Corning Incorporated (NYSE:GLW) fell 2.6% on Friday . The stock traded as low as $148.06 and last traded at $148.87. Approximately 6,104,414 shares changed hands during trading, a decline of 52% from the average daily volume of 12,701,679 shares. The stock had previously closed at $152.80.

Analyst Ratings Changes

GLW has been the topic of a number of research analyst reports. Bank of America boosted their target price on Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research report on Monday, July 6th. Morgan Stanley lowered their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a report on Wednesday, July 29th. Truist Financial raised Corning from a “hold” rating to a “buy” rating and dropped their target price for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a research note on Monday. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $174.08.

Corning Stock Performance

The stock has a 50 day simple moving average of $172.11 and a two-hundred day simple moving average of $164.71. The company has a market capitalization of $128.24 billion, a price-to-earnings ratio of 67.98, a PEG ratio of 1.96 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24.

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

Corning Dividend Announcement

The business 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 $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. Corning’s dividend payout ratio is presently 51.14%.

Insider Buying and Selling

In related news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of Corning

Institutional investors and hedge funds have recently made changes to their positions in the company. Formuepleje A S purchased a new stake in Corning in the second quarter valued at approximately $1,777,000. Tucker Asset Management LLC acquired a new position in shares of Corning in the 2nd quarter valued at $383,000. Advus Financial Partners LLC purchased a new stake in Corning in the 2nd quarter valued at $248,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new stake in Corning in the 2nd quarter valued at $20,435,000. Finally, Financial Insights Inc. acquired a new stake in Corning during the 2nd quarter worth $404,000. 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.