Corning (NYSE:GLW) Stock Price Up 1.3% – Should You Buy?

Corning Incorporated (NYSE:GLW)’s share price shot up 1.3% on Thursday . The company traded as high as $146.33 and last traded at $146.00. 8,079,859 shares were traded during mid-day trading, a decline of 36% from the average session volume of 12,615,259 shares. The stock had previously closed at $144.13.

Analyst Upgrades and Downgrades

GLW has been the topic of a number of recent analyst reports. Citigroup dropped their price objective on Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a report on Wednesday, July 29th. Mizuho reduced their target price on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, May 26th. Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Finally, Bank of America raised their price objective on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Stock Performance

The stock has a 50-day simple moving average of $167.76 and a 200 day simple moving average of $165.16. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The company has a market capitalization of $125.76 billion, a PE ratio of 66.67, a P/E/G ratio of 1.86 and a beta of 1.16.

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

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. Corning’s payout ratio is presently 51.14%.

Insider Activity at Corning

In related news, EVP Lewis Steverson sold 13,100 shares of the company’s stock in a transaction that occurred on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This represents a 46.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Wendell Weeks sold 100,000 shares of the 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 sale, the chief executive officer owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corning

A number of hedge funds and other institutional investors have recently modified their holdings of GLW. Range Advisory LLC boosted its position in Corning by 12.7% during the second quarter. Range Advisory LLC now owns 2,087 shares of the electronics maker’s stock worth $533,000 after acquiring an additional 236 shares during the last quarter. Brown Lisle Cummings Inc. lifted its stake in shares of Corning by 6.2% during the 2nd quarter. Brown Lisle Cummings Inc. now owns 13,455 shares of the electronics maker’s stock worth $3,437,000 after purchasing an additional 786 shares during the period. Alternative Investment Advisors LLC. purchased a new position in shares of Corning during the 2nd quarter worth $251,000. Cornerstone Financial Management LLC boosted its holdings in shares of Corning by 63.3% during the second quarter. Cornerstone Financial Management LLC now owns 196 shares of the electronics maker’s stock worth $50,000 after purchasing an additional 76 shares during the last quarter. Finally, Formuepleje A S purchased a new stake in shares of Corning in the second quarter valued at $1,777,000. 69.80% of the stock is currently 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.