Corning (NYSE:GLW) Trading 2.3% Higher – Here’s Why

Shares of Corning Incorporated (NYSE:GLW) rose 2.3% during trading on Monday . The company traded as high as $135.28 and last traded at $132.1360. Approximately 9,167,803 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 11,005,222 shares. The stock had previously closed at $129.12.

Wall Street Analyst Weigh In

GLW has been the subject of a number of recent analyst reports. Susquehanna upped their price target on shares of Corning from $100.00 to $125.00 and gave the company a “positive” rating in a research report on Thursday, January 29th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Citigroup upped their target price on Corning from $120.00 to $170.00 and gave the company a “buy” rating in a research report on Wednesday, February 25th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Oppenheimer set a $120.00 target price on Corning in a report on Thursday, January 29th. Eleven investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $131.75.

Corning Trading Down 0.1%

The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The company has a market capitalization of $111.31 billion, a P/E ratio of 70.51, a P/E/G ratio of 2.08 and a beta of 1.05. The firm’s 50-day moving average price is $119.42 and its 200 day moving average price is $96.37.

Corning (NYSE:GLW) last issued its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business had revenue of $4.41 billion during the quarter, compared to the consensus estimate of $4.35 billion. During the same period in the prior year, the firm posted $0.57 EPS. The firm’s quarterly revenue 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, equities research analysts predict that Corning Incorporated will post 2.33 earnings per share for the current year.

Corning Dividend Announcement

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

Insider Buying and Selling

In other news, EVP Lewis A. Steverson sold 15,366 shares of the company’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the sale, the executive vice president directly owned 3,461 shares in the company, valued at $450,691.42. This represents a 81.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, SVP Li Fang sold 9,797 shares of the stock in a transaction dated Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total transaction of $1,112,057.47. The SEC filing for this sale provides additional information. Insiders sold 233,201 shares of company stock worth $32,614,558 in the last 90 days. 0.32% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

Several hedge funds have recently bought and sold shares of GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning during the 3rd quarter valued at about $25,000. Berbice Capital Management LLC purchased a new position in Corning in the 4th quarter worth approximately $26,000. Basepoint Wealth LLC purchased a new position in Corning in the 4th quarter worth approximately $26,000. Strengthening Families & Communities LLC bought a new stake in Corning in the third quarter valued at approximately $27,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in shares of Corning during the fourth quarter valued at approximately $27,000. 69.80% of the stock is currently owned by institutional investors.

About Corning

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.