Corning (NYSE:GLW) Shares Gap Down – Here’s What Happened

Corning Incorporated (NYSE:GLW) gapped down prior to trading on Tuesday . The stock had previously closed at $132.05, but opened at $128.36. Corning shares last traded at $129.32, with a volume of 3,383,962 shares.

Analyst Ratings Changes

GLW has been the topic of a number of research analyst reports. Oppenheimer set a $120.00 price objective on shares of Corning in a report on Thursday, January 29th. Mizuho set a $145.00 price target on Corning in a research report on Monday, February 23rd. Weiss Ratings upgraded Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Zacks Research lowered Corning from a “strong-buy” rating to a “hold” rating in a report on Friday, November 21st. Finally, Barclays set a $100.00 price objective on Corning in a research note on Thursday, January 29th. Eleven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and an average price target of $131.75.

Corning Trading Down 2.0%

The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The firm has a market cap of $111.01 billion, a price-to-earnings ratio of 70.32, a PEG ratio of 2.04 and a beta of 1.04. The company has a fifty day moving average price of $118.61 and a 200-day moving average price of $95.93.

Corning (NYSE:GLW) last posted its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. Corning had a return on equity of 18.72% and a net margin of 10.21%.The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. During the same period last year, the company earned $0.57 earnings per share. Corning’s revenue for the quarter was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, research analysts expect that Corning Incorporated will post 2.33 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s payout ratio is 60.87%.

Insider Transactions at Corning

In related news, EVP Lewis A. Steverson sold 15,366 shares of the business’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $130.22, for a total value of $2,000,960.52. Following the completion of the transaction, the executive vice president directly owned 3,461 shares in the company, valued at $450,691.42. The trade was a 81.62% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Eric S. Musser sold 25,000 shares of the firm’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the sale, the insider owned 19,926 shares in the company, valued at approximately $2,191,860. This represents a 55.65% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 233,201 shares of company stock worth $32,614,558. Insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Corning

Several hedge funds and other institutional investors have recently made changes to their positions in GLW. Brighton Jones LLC grew its holdings in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. acquired a new position in shares of Corning during the 1st quarter valued at about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after acquiring an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Corning in the second quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in Corning during the second quarter worth about $266,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.