Corning (NYSE:GLW) Stock Price Down 1.9% – Here’s Why

Corning Incorporated (NYSE:GLW)’s share price was down 1.9% during trading on Wednesday . The company traded as low as $143.34 and last traded at $144.82. Approximately 12,635,193 shares changed hands during mid-day trading, an increase of 20% from the average daily volume of 10,542,886 shares. The stock had previously closed at $147.57.

Analysts Set New Price Targets

GLW has been the topic of a number of research analyst reports. Mizuho set a $145.00 target price on Corning in a research note on Monday, February 23rd. JPMorgan Chase & Co. raised their target price on shares of Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a report on Wednesday, January 28th. Citigroup upped their target price on Corning from $120.00 to $170.00 and gave the company a “buy” rating in a report on Wednesday, February 25th. Wall Street Zen upgraded Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Finally, Wolfe Research set a $130.00 target price on shares of Corning and gave the company an “outperform” rating in a report on Tuesday, January 27th. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and an average price target of $125.42.

Corning Trading Down 1.9%

The stock has a 50-day moving average price of $110.82 and a two-hundred day moving average price of $91.74. The stock has a market capitalization of $124.25 billion, a PE ratio of 78.71, a PEG ratio of 2.73 and a beta of 1.05. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.04 and a current ratio of 1.59.

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

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s dividend payout ratio (DPR) is 60.87%.

Insider Activity at Corning

In other Corning news, EVP Lewis A. Steverson sold 15,366 shares of Corning stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total transaction of $2,000,960.52. Following the completion of the sale, the executive vice president directly owned 3,461 shares of the company’s stock, valued at $450,691.42. The trade was a 81.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Edward A. Schlesinger sold 21,104 shares of the business’s stock in a transaction dated 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 completion of the transaction, the chief financial officer owned 54,780 shares of the company’s stock, valued at $5,727,249. This represents a 27.81% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 233,201 shares of company stock worth $32,614,558 over the last three months. Corporate insiders own 0.32% of the company’s stock.

Institutional Investors Weigh In On Corning

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