Corning (NYSE:GLW) Shares Down 9.1% – Should You Sell?

Corning Incorporated (NYSE:GLW) traded down 9.1% during mid-day trading on Thursday . The company traded as low as $154.43 and last traded at $158.4980. 17,556,045 shares changed hands during mid-day trading, an increase of 36% from the average session volume of 12,862,210 shares. The stock had previously closed at $174.41.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on GLW shares. JPMorgan Chase & Co. increased their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Bank of America boosted their target price on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a report on Monday, July 6th. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a research report on Saturday. Finally, Barclays lifted their price objective on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Stock Down 2.5%

The stock has a market cap of $132.94 billion, a price-to-earnings ratio of 73.91, a price-to-earnings-growth ratio of 2.08 and a beta of 1.09. The firm’s fifty day moving average price is $192.81 and its two-hundred day moving average price is $152.85. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the business posted $0.54 EPS. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Sell-side analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Activity

In other news, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 160,655 shares of company stock valued at $30,692,560. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

Hedge funds and other institutional investors have recently made changes to their positions in the business. Norges Bank bought a new stake in Corning in the 4th quarter worth about $921,435,000. Capital Research Global Investors increased its stake in Corning by 52.7% in the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after buying an additional 5,831,873 shares during the last quarter. Polar Capital Holdings Plc lifted its position in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after buying an additional 2,348,125 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after buying an additional 2,304,676 shares in the last quarter. Finally, Evergreen Quality Fund GP Ltd. purchased a new position in shares of Corning in the 4th quarter worth approximately $185,312,000. 69.80% of the stock is owned by 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.