Corning (NYSE:GLW) Stock Price Down 6.6% – Here’s Why

Corning Incorporated (NYSE:GLW)’s stock price dropped 6.6% during trading on Tuesday . The stock traded as low as $141.40 and last traded at $147.40. Approximately 14,776,074 shares were traded during mid-day trading, an increase of 41% from the average daily volume of 10,491,008 shares. The stock had previously closed at $157.86.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GLW shares. UBS Group lifted their target price on Corning from $125.00 to $160.00 and gave the stock a “buy” rating in a report on Friday, February 20th. Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, February 17th. Susquehanna lifted their price target on shares of Corning from $100.00 to $125.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. JPMorgan Chase & Co. upped their price target on shares of Corning from $100.00 to $115.00 and gave the company an “overweight” rating in a report on Wednesday, January 28th. Finally, Morgan Stanley raised their price objective on shares of Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a report on Monday, February 23rd. Eleven analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $125.42.

Corning Stock Down 7.1%

The stock has a market capitalization of $115.44 billion, a price-to-earnings ratio of 73.13, a PEG ratio of 2.55 and a beta of 1.05. The firm has a 50-day moving average of $111.93 and a 200 day moving average of $92.11. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04.

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

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be issued 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 payout ratio is 60.87%.

Insider Buying and Selling

In related news, insider Eric S. Musser sold 25,000 shares of the business’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 sale, 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 sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 137,514 shares of the company’s stock in a transaction dated Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the sale, the chief executive officer owned 750,585 shares in the company, valued at $116,618,391.45. This trade represents a 15.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 233,201 shares of company stock worth $32,614,558 in the last ninety days. Insiders own 0.40% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new position in Corning in the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC bought a new stake in shares of Corning during the 4th quarter worth $26,000. Basepoint Wealth LLC purchased a new position in Corning in the fourth quarter worth $26,000. Strengthening Families & Communities LLC bought a new position in Corning in the third quarter valued at $27,000. Finally, Kemnay Advisory Services Inc. purchased a new stake in Corning during the fourth quarter valued at about $27,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

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.