Corning (NYSE:GLW) Trading Down 2.6% – Time to Sell?

Corning Incorporated (NYSE:GLW)’s stock price dropped 2.6% on Monday . The company traded as low as $172.43 and last traded at $176.4460. Approximately 10,772,402 shares traded hands during mid-day trading, a decline of 10% from the average daily volume of 12,026,693 shares. The stock had previously closed at $181.16.

Analyst Ratings Changes

GLW has been the topic of a number of recent analyst reports. HSBC restated a “buy” rating and issued a $135.00 price target on shares of Corning in a report on Friday, February 13th. Barclays lifted their target price on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Oppenheimer lifted their target price on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a research note on Thursday, May 7th. Truist Financial lifted their target price on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research note on Wednesday, April 29th. Finally, UBS Group lifted their target price on shares of Corning from $179.00 to $223.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, Corning presently has a consensus rating of “Moderate Buy” and an average target price of $177.92.

Corning Stock Performance

The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The firm’s 50 day simple moving average is $167.47 and its 200 day simple moving average is $126.87. The firm has a market capitalization of $151.86 billion, a price-to-earnings ratio of 84.42, a PEG ratio of 2.59 and a beta of 1.15.

Corning (NYSE:GLW) last announced 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. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the business posted $0.54 EPS. The business’s quarterly revenue 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 3.19 earnings per share for the current fiscal year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s payout ratio is 53.59%.

Insider Activity

In other news, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred 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 transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 60,655 shares of company stock valued at $12,046,561 in the last quarter. Company insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

Several institutional investors have recently made changes to their positions in GLW. Merit Financial Group LLC lifted its holdings in Corning by 16.9% in the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after acquiring an additional 6,493 shares during the period. Lansforsakringar Fondforvaltning AB publ lifted its holdings in Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after acquiring an additional 12,297 shares during the period. Security National Bank increased its position in shares of Corning by 340.4% in the fourth quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after buying an additional 56,056 shares in the last quarter. Three Seasons Wealth LLC purchased a new position in shares of Corning in the fourth quarter valued at $1,750,000. Finally, Natixis Advisors LLC increased its position in shares of Corning by 32.1% in the third quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after buying an additional 116,583 shares in the last quarter. 69.80% of the stock is owned by hedge funds and other 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.