Corning (NYSE:GLW) Trading Up 1.9% – Time to Buy?

Corning Incorporated (NYSE:GLW)’s stock price traded up 1.9% during mid-day trading on Friday . The company traded as high as $168.82 and last traded at $166.2760. 4,681,630 shares were traded during mid-day trading, a decline of 63% from the average session volume of 12,488,241 shares. The stock had previously closed at $163.12.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on GLW shares. Truist Financial raised shares of Corning from a “hold” rating to a “buy” rating and cut their price target for the stock from $205.00 to $175.00 in a report on Sunday, August 2nd. JPMorgan Chase & Co. reduced their target price on shares of Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. UBS Group reaffirmed a “buy” rating and issued a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a report on Monday, August 24th. Finally, Morgan Stanley decreased their target price on Corning from $180.00 to $165.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Eleven investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $178.64.

Corning Trading Up 1.9%

The company has a market cap of $143.23 billion, a P/E ratio of 75.93, a price-to-earnings-growth ratio of 2.16 and a beta of 1.16. The company has a quick ratio of 1.24, a current ratio of 1.81 and a debt-to-equity ratio of 0.59. The firm’s 50-day moving average price is $159.22 and its 200-day moving average price is $166.24.

Corning (NYSE:GLW) last released its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s revenue was up 17.1% compared to the same quarter last year. During the same period in the previous year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities research analysts expect that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be paid a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s payout ratio is presently 51.14%.

Insider Buying and Selling

In other Corning news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the transaction, the executive vice president owned 15,052 shares of the company’s stock, valued at $2,277,217.08. The trade was a 46.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.25% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Corning

A number of large investors have recently modified their holdings of GLW. ABS Direct Equity Fund LLC purchased a new position in Corning during the second quarter valued at approximately $65,000. Sequoia Financial Advisors LLC boosted its holdings in Corning by 0.7% in the 2nd quarter. Sequoia Financial Advisors LLC now owns 61,122 shares of the electronics maker’s stock valued at $15,612,000 after purchasing an additional 449 shares during the period. IPG Investment Advisors LLC grew its position in shares of Corning by 18.9% during the 2nd quarter. IPG Investment Advisors LLC now owns 1,821 shares of the electronics maker’s stock valued at $465,000 after purchasing an additional 290 shares in the last quarter. MCF Advisors LLC increased its holdings in shares of Corning by 4.3% in the second quarter. MCF Advisors LLC now owns 3,505 shares of the electronics maker’s stock worth $895,000 after purchasing an additional 143 shares during the period. Finally, Arlington Capital Management Inc. purchased a new stake in shares of Corning in the second quarter worth $300,000. 69.80% of the stock is currently owned by institutional investors.

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.

Corning’s products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.

The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.