Corning (NYSE:GLW) Trading 1.2% Higher – Here’s Why

Corning Incorporated (NYSE:GLW)’s share price traded up 1.2% during mid-day trading on Thursday . The company traded as high as $160.98 and last traded at $155.9060. 8,692,995 shares were traded during trading, a decline of 32% from the average session volume of 12,766,837 shares. The stock had previously closed at $154.06.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Oppenheimer boosted their price target on shares of Corning from $210.00 to $230.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 7th. JPMorgan Chase & Co. increased their price objective on Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a research note on Thursday, May 7th. Mizuho lifted their target price on Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Finally, Bank of America upped their price target on Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Ten investment analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $194.69.

Corning Trading Down 6.1%

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 company’s 50-day moving average price is $188.01 and its 200-day moving average price is $155.14. The firm has a market capitalization of $126.14 billion, a PE ratio of 70.13, a PEG ratio of 2.05 and a beta of 1.09.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS 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 analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts expect that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be given a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Buying and Selling at Corning

In related news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the sale, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. 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 the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $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. In the last ninety days, insiders have sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Norges Bank purchased a new stake in Corning in the fourth quarter valued at $921,435,000. Capital Research Global Investors increased its position in shares of Corning by 52.7% during the fourth quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock worth $1,478,959,000 after purchasing an additional 5,831,873 shares in the last quarter. Polar Capital Holdings Plc lifted its holdings in shares of Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of Corning by 102.1% in the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock valued at $399,505,000 after purchasing an additional 2,304,676 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. acquired a new stake in shares of Corning in the 4th quarter valued at about $185,312,000. 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.