Corning (NYSE:GLW) Stock Falls 5.1% – Time to Sell?

Corning Incorporated (NYSE:GLW) was down 5.1% during trading on Wednesday. The company traded as low as $139.25 and last traded at $140.8930. Approximately 8,852,386 shares changed hands during mid-day trading, a decline of 26% from the average daily volume of 11,984,023 shares. The stock had previously closed at $148.54.

Wall Street Analyst Weigh In

Several research firms recently weighed in on GLW. UBS Group raised their target price on shares of Corning from $196.00 to $201.00 and gave the company a “buy” rating in a research note on Monday, October 5th. Mizuho cut their target price on shares of Corning from $210.00 to $180.00 and set an “outperform” rating for the company in a report on Tuesday, September 15th. Weiss Ratings downgraded shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a report on Friday, August 21st. Bank of America lowered their price objective on Corning from $243.00 to $200.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. Finally, Sanford C. Bernstein began coverage on shares of Corning in a research report on Wednesday, September 30th. They issued a “market perform” rating and a $140.00 price objective on the stock. 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 stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $177.56.

Corning Trading Down 5.1%

The stock has a market cap of $121.36 billion, a price-to-earnings ratio of 64.33, a P/E/G ratio of 1.88 and a beta of 1.13. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The company’s fifty day moving average price is $155.55 and its 200-day moving average price is $168.87.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The business had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. During the same period in the previous year, the business posted $0.60 EPS. The business’s quarterly revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts expect that Corning Incorporated will post 3.28 EPS for the current fiscal year.

Corning Announces Dividend

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

Insider Transactions at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

Hedge funds have recently modified their holdings of the stock. Atwood & Palmer Inc. purchased a new position in shares of Corning during the second quarter worth $26,000. Rogco LP purchased a new stake in Corning during the 2nd quarter worth approximately $27,000. Toth Financial Advisory Corp raised its stake in Corning by 130.7% in the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock valued at $27,000 after buying an additional 98 shares in the last quarter. Cornerstone Financial Management LLC boosted its holdings in shares of Corning by 63.3% in the 2nd quarter. Cornerstone Financial Management LLC now owns 196 shares of the electronics maker’s stock valued at $50,000 after buying an additional 76 shares in the last quarter. Finally, First PREMIER Bank acquired a new position in Corning in the second quarter valued at $51,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Company Profile

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.