Corning (NYSE:GLW) EVP Sells $1,981,899.00 in Stock

Corning Incorporated (NYSE:GLW) EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction on Friday, August 28th. The shares were sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Corning Trading Down 1.0%

Shares of GLW stock opened at $144.16 on Thursday. The firm has a fifty day moving average of $167.76 and a 200-day moving average of $165.16. The stock has a market cap of $124.18 billion, a price-to-earnings ratio of 65.83, a P/E/G ratio of 1.86 and a beta of 1.16. Corning Incorporated has a 52-week low of $66.40 and a 52-week high of $271.78. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating the consensus estimate of $0.76 by $0.02. The business had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s revenue was up 17.1% on a year-over-year basis. During the same period in the previous year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, equities research analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is currently 51.14%.

Hedge Funds Weigh In On Corning

Several institutional investors have recently bought and sold shares of GLW. California State Teachers Retirement System raised its holdings in shares of Corning by 26,791.0% in the second quarter. California State Teachers Retirement System now owns 308,768,637 shares of the electronics maker’s stock valued at $78,868,773,000 after buying an additional 307,620,415 shares during the last quarter. State Street Corp increased its position 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 increased its position 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. Bank of America Corp DE raised its stake in shares of Corning by 29.2% in the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock worth $4,784,361,000 after acquiring an additional 4,231,507 shares during the last quarter. Finally, Capital Research Global Investors lifted its position in shares of Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts recently commented on GLW shares. Morgan Stanley cut their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Barclays lowered their price target 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. JPMorgan Chase & Co. dropped their price objective on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research note on Wednesday, July 29th. Mizuho cut their price objective on Corning from $270.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Finally, UBS Group restated a “buy” rating and issued a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $174.08.

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.