Corning (NYSE:GLW) Trading Down 4.1% – Here’s What Happened

Shares of Corning Incorporated (NYSE:GLW) traded down 4.1% during mid-day trading on Monday . The company traded as low as $178.66 and last traded at $183.14. Approximately 7,553,697 shares traded hands during trading, a decline of 41% from the average session volume of 12,856,307 shares. The stock had previously closed at $190.89.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on GLW shares. Bank of America increased their target price on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Morgan Stanley set a $180.00 price objective on shares of Corning in a report on Friday, May 8th. Wall Street Zen downgraded shares of Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Citigroup upped their target price on Corning from $225.00 to $240.00 and gave the stock a “buy” rating in a research note on Monday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, Corning has a consensus rating of “Moderate Buy” and an average target price of $194.69.

Corning Stock Performance

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The stock has a 50-day moving average of $193.19 and a 200 day moving average of $150.40. The stock has a market cap of $157.62 billion, a PE ratio of 87.63, a P/E/G ratio of 2.50 and a beta of 1.09.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities analysts predict that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Transactions at Corning

In related news, SVP Soumya Seetharam sold 20,000 shares of the 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 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Institutional Trading of Corning

A number of hedge funds have recently added to or reduced their stakes in GLW. First Community Trust NA purchased a new position in Corning during the second quarter worth about $72,000. Regent Peak Wealth Advisors LLC increased its stake in shares of Corning by 2.0% during the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 3,569 shares of the electronics maker’s stock worth $912,000 after purchasing an additional 70 shares in the last quarter. Annex Advisory Services LLC acquired a new stake in shares of Corning during the second quarter valued at $284,000. Tema ETFs LLC grew its holdings in shares of Corning by 10.5% during the second quarter. Tema ETFs LLC now owns 13,723 shares of the electronics maker’s stock worth $3,505,000 after buying an additional 1,305 shares in the last quarter. Finally, West Branch Capital LLC lifted its stake in shares of Corning by 30.5% during the 2nd quarter. West Branch Capital LLC now owns 877 shares of the electronics maker’s stock worth $224,000 after purchasing an additional 205 shares during the period. 69.80% of the stock is owned by institutional investors and hedge funds.

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.