Corning (NYSE:GLW) Trading Down 6.3% – Here’s What Happened

Corning Incorporated (NYSE:GLW)’s stock price was down 6.3% on Thursday . The stock traded as low as $148.40 and last traded at $150.29. Approximately 17,502,998 shares traded hands during trading, an increase of 73% from the average daily volume of 10,141,131 shares. The stock had previously closed at $160.43.

Analyst Ratings Changes

GLW has been the subject of several research reports. Mizuho set a $145.00 price objective on shares of Corning in a research report on Monday. Barclays set a $100.00 price target on shares of Corning in a report on Thursday, January 29th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Zacks Research cut Corning from a “strong-buy” rating to a “hold” rating in a research report on Friday, November 21st. Finally, Fox Advisors lowered shares of Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $125.42.

Corning Stock Down 6.3%

The firm has a 50-day moving average price of $105.76 and a two-hundred day moving average price of $89.15. The company has a market capitalization of $128.94 billion, a P/E ratio of 81.68, a PEG ratio of 2.62 and a beta of 1.13. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The firm had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. During the same period in the prior year, the company earned $0.57 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Equities research analysts anticipate that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Investors of record on Friday, February 27th will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, February 27th. Corning’s dividend payout ratio (DPR) is presently 60.87%.

Insider Activity

In other news, CFO Edward A. Schlesinger sold 21,104 shares of the business’s stock in a transaction that occurred on Thursday, January 29th. The stock was sold at an average price of $104.55, for a total transaction of $2,206,423.20. Following the sale, the chief financial officer directly owned 54,780 shares in the company, valued at approximately $5,727,249. The trade was a 27.81% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Eric S. Musser sold 25,000 shares of the company’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $110.00, for a total value of $2,750,000.00. Following the completion of the transaction, the insider owned 19,926 shares of the company’s stock, valued at $2,191,860. The trade was a 55.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 95,687 shares of company stock valued at $11,249,008. Corporate insiders own 0.40% of the company’s stock.

Hedge Funds Weigh In On Corning

Hedge funds have recently made changes to their positions in the business. Beese Fulmer Investment Management Inc. increased its stake in Corning by 2.5% in the fourth quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock valued at $336,000 after acquiring an additional 92 shares during the period. 3Chopt Investment Partners LLC boosted its holdings in Corning by 1.0% during the fourth quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock valued at $897,000 after purchasing an additional 97 shares in the last quarter. Patten & Patten Inc. TN grew its stake in shares of Corning by 0.6% in the 4th quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock valued at $1,558,000 after purchasing an additional 100 shares during the period. Vermillion Wealth Management Inc. grew its stake in shares of Corning by 32.8% in the 4th quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker’s stock valued at $36,000 after purchasing an additional 100 shares during the period. Finally, Joel Isaacson & Co. LLC raised its holdings in shares of Corning by 0.5% in the 4th quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock worth $1,797,000 after buying an additional 102 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.