Corning (NYSE:GLW) Trading Down 1.1% – Here’s Why

Corning Incorporated (NYSE:GLW)’s stock price fell 1.1% during mid-day trading on Monday . The company traded as low as $152.59 and last traded at $152.9730. Approximately 7,779,281 shares traded hands during mid-day trading, a decline of 39% from the average daily volume of 12,835,921 shares. The stock had previously closed at $154.61.

Analyst Ratings Changes

GLW has been the subject of a number of analyst reports. Truist Financial raised their price target on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research note on Monday, June 22nd. Susquehanna upped their price objective on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research note on Wednesday, April 29th. JPMorgan Chase & Co. raised their target price on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Morgan Stanley set a $180.00 target price on shares of Corning in a report on Friday, May 8th. Finally, Zacks Research lowered shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Stock Down 3.3%

The stock has a market cap of $135.11 billion, a P/E ratio of 75.03, a price-to-earnings-growth ratio of 2.01 and a beta of 1.09. The firm has a 50 day simple moving average of $191.02 and a 200-day simple moving average of $154.27. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62.

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

Corning Announces Dividend

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

Insiders Place Their Bets

In other Corning news, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This represents a 66.06% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following 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. Insiders sold a total of 160,655 shares of company stock worth $30,692,560 over the last three months. 0.25% of the stock is currently owned by corporate insiders.

Institutional Trading of Corning

Several hedge funds and other institutional investors have recently bought and sold shares of GLW. Vanguard Group Inc. raised its position in shares of Corning by 0.6% in the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after buying an additional 580,678 shares in the last quarter. State Street Corp raised its holdings in Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after acquiring an additional 439,883 shares in the last quarter. Geode Capital Management LLC raised its holdings in Corning by 2.6% in the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after acquiring an additional 517,067 shares in the last quarter. Capital Research Global Investors lifted its position in shares of Corning by 52.7% during 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 acquiring an additional 5,831,873 shares during the period. Finally, Ameriprise Financial Inc. grew its holdings in shares of Corning by 8.1% during the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after purchasing an additional 1,036,988 shares in the last quarter. 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.