Corning (NYSE:GLW) Shares Up 5.6% – Still a Buy?

Shares of Corning Incorporated (NYSE:GLW) rose 5.6% during trading on Friday . The company traded as high as $154.59 and last traded at $154.22. Approximately 7,887,553 shares were traded during trading, a decline of 37% from the average daily volume of 12,590,764 shares. The stock had previously closed at $146.00.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on GLW. JPMorgan Chase & Co. dropped their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a report on Wednesday, July 29th. Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Barclays decreased their target price on Corning from $180.00 to $129.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Finally, 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. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $174.08.

Corning Stock Up 5.6%

The firm has a fifty day moving average price of $166.12 and a 200-day moving average price of $165.25. 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 firm has a market cap of $132.84 billion, a price-to-earnings ratio of 70.42, a PEG ratio of 1.84 and a beta of 1.16.

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 return on equity of 20.09% and a net margin of 11.20%.The firm had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. During the same period in the prior year, the firm posted $0.60 earnings per share. The business’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. As a group, sell-side analysts forecast that Corning Incorporated will post 3.27 EPS for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a $0.28 dividend. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s dividend payout ratio (DPR) is currently 51.14%.

Insider Activity at Corning

In other news, EVP Lewis A. Steverson sold 13,100 shares of the firm’s stock in a transaction dated 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 transaction, the executive vice president directly owned 15,052 shares in the company, valued at $2,277,217.08. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Wendell Weeks sold 100,000 shares of the firm’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the transaction, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. The disclosure for this sale is available in the SEC filing. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

A number of institutional investors have recently added to or reduced their stakes in the business. Atwood & Palmer Inc. purchased a new stake in shares of Corning in the second quarter worth about $26,000. Rogco LP acquired a new position in Corning during the 2nd quarter worth approximately $27,000. Cornerstone Financial Management LLC boosted its holdings in Corning by 63.3% in the 2nd quarter. Cornerstone Financial Management LLC now owns 196 shares of the electronics maker’s stock worth $50,000 after acquiring an additional 76 shares during the period. First PREMIER Bank acquired a new stake in Corning in the second quarter valued at approximately $51,000. Finally, Burk Holdings LLC acquired a new position in shares of Corning during the second quarter worth $53,000. 69.80% of the stock is owned by hedge funds and other 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.