Corning (NYSE:GLW) Trading Down 10.2% – Should You Sell?

Corning Incorporated (NYSE:GLW)’s stock price fell 10.2% during trading on Friday . The stock traded as low as $174.30 and last traded at $177.5210. 15,596,059 shares traded hands during trading, an increase of 29% from the average session volume of 12,111,048 shares. The stock had previously closed at $197.70.

Wall Street Analyst Weigh In

Several research firms have issued reports on GLW. Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Truist Financial upped their price target on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. HSBC reissued a “buy” rating and set a $135.00 price objective on shares of Corning in a research note on Friday, February 13th. Morgan Stanley set a $180.00 target price on Corning in a research note on Friday, May 8th. Finally, Citigroup raised their price target on Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat, Corning has an average rating of “Moderate Buy” and a consensus price target of $178.31.

Corning Price Performance

The stock has a market capitalization of $152.78 billion, a PE ratio of 84.94, a PEG ratio of 2.87 and a beta of 1.15. The business has a fifty day moving average price of $172.37 and a 200-day moving average price of $129.93. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping 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 firm had revenue of $4.35 billion for the quarter, compared to the consensus estimate of $4.30 billion. During the same period last year, the firm posted $0.54 earnings per share. The business’s 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. Research analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

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

Insider Buying and Selling at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president directly owned 25,570 shares of the company’s stock, valued at approximately $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction dated 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 completion of the transaction, the vice president owned 5,138 shares in the company, valued at approximately $1,019,070.92. This represents a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 60,655 shares of company stock valued at $12,046,561. Corporate insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

Institutional investors have recently made changes to their positions in the stock. Merit Financial Group LLC increased its stake in shares of Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after buying an additional 6,493 shares during the period. Lansforsakringar Fondforvaltning AB publ boosted 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 in the last quarter. Security National Bank boosted its holdings in 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 acquiring an additional 56,056 shares in the last quarter. Three Seasons Wealth LLC purchased a new position in Corning during the 4th quarter valued at $1,750,000. Finally, Natixis Advisors LLC raised its holdings in Corning by 32.1% in the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after purchasing an additional 116,583 shares in the last quarter. Hedge funds and other institutional investors own 69.80% of the company’s stock.

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.