Corning (NYSE:GLW) Stock Falls 4.7% – What’s Next?

Corning Incorporated (NYSE:GLW) shares were down 4.7% on Friday. The company traded as low as $131.63 and last traded at $131.9260. Approximately 7,690,698 shares changed hands during trading, a decline of 36% from the average session volume of 11,957,389 shares. The stock had previously closed at $138.43.

Analysts Set New Price Targets

Several analysts have commented on the stock. China Renaissance raised shares of Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective on the stock in a research report on Tuesday, September 8th. UBS Group boosted their price objective on Corning from $196.00 to $201.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Citigroup lowered their price target on shares of Corning from $240.00 to $220.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. JPMorgan Chase & Co. dropped their target price on Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research report on Wednesday, July 29th. Finally, The Goldman Sachs Group reiterated an “outperform” rating on shares of Corning in a research report on Tuesday, September 15th. Thirteen equities research analysts have rated the stock with a Buy rating and seven have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.56.

Corning Stock Performance

The company has a 50-day moving average of $154.85 and a 200 day moving average of $168.92. The firm has a market capitalization of $113.64 billion, a PE ratio of 60.24, a PEG ratio of 1.80 and a beta of 1.13. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. During the same quarter in the prior year, the firm earned $0.60 EPS. The business’s revenue for the quarter 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 research analysts predict that Corning Incorporated will post 3.28 EPS for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, November 13th. Corning’s dividend payout ratio (DPR) is 51.14%.

Insiders Place Their Bets

In related news, EVP Lewis Steverson sold 13,100 shares of the firm’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 transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Atwood & Palmer Inc. purchased a new position in shares of Corning in the second quarter valued at about $26,000. Rogco LP purchased a new stake in shares of Corning during the second quarter worth about $27,000. Toth Financial Advisory Corp raised its position in Corning by 130.7% during the 3rd quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock valued at $27,000 after purchasing an additional 98 shares during the last quarter. Cornerstone Financial Management LLC lifted 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 buying an additional 76 shares during the period. Finally, First PREMIER Bank bought a new stake in shares of Corning in the 2nd quarter worth approximately $51,000. 69.80% of the stock is owned by hedge funds and other institutional investors.

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.