Corning (NYSE:GLW) Stock Price Down 7.5% – Here’s Why

Shares of Corning Incorporated (NYSE:GLW) fell 7.5% during mid-day trading on Tuesday . The company traded as low as $186.60 and last traded at $194.02. 17,862,724 shares were traded during trading, an increase of 46% from the average daily volume of 12,270,346 shares. The stock had previously closed at $209.83.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on the stock. Mizuho increased their price target on shares of Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Bank of America increased their price objective on Corning from $155.00 to $186.00 and gave the company a “buy” rating in a research report on Monday, April 20th. JPMorgan Chase & Co. boosted their target price on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Truist Financial raised their price target on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday. Finally, Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Ten analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $182.62.

Corning Stock Performance

The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62. The company has a market cap of $177.21 billion, a price-to-earnings ratio of 98.52, a P/E/G ratio of 2.78 and a beta of 1.15. The stock has a 50 day moving average price of $182.50 and a two-hundred day moving average price of $140.14.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same period in the previous year, the firm earned $0.54 earnings per share. The firm’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. Analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The business also recently declared 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. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.5%. Corning’s dividend payout ratio is 53.59%.

Insider Buying and Selling at Corning

In related 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 transaction, the senior vice president owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 160,655 shares of company stock worth $30,692,560 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of Corning

Several hedge funds have recently added to or reduced their stakes in the business. Basecamp Wealth Advisors LLC raised its position in shares of Corning by 1.8% during the first quarter. Basecamp Wealth Advisors LLC now owns 6,091 shares of the electronics maker’s stock worth $828,000 after purchasing an additional 106 shares during the period. Sapient Capital LLC increased its stake in Corning by 4.4% during the 1st quarter. Sapient Capital LLC now owns 4,768 shares of the electronics maker’s stock worth $648,000 after purchasing an additional 201 shares in the last quarter. Western Wealth Management LLC raised its holdings in Corning by 17.1% during the 1st quarter. Western Wealth Management LLC now owns 30,229 shares of the electronics maker’s stock worth $4,110,000 after buying an additional 4,417 shares during the period. Wealthquest Corp bought a new position in Corning in the first quarter valued at approximately $250,000. Finally, DV Trading LLC lifted its stake in Corning by 89.1% in the first quarter. DV Trading LLC now owns 1,891 shares of the electronics maker’s stock valued at $257,000 after buying an additional 891 shares in the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.