Corning (NYSE:GLW) Stock Price Up 2.9% – Here’s What Happened

Corning Incorporated (NYSE:GLW) shares traded up 2.9% during trading on Wednesday . The company traded as high as $150.25 and last traded at $146.16. 13,197,641 shares changed hands during mid-day trading, an increase of 15% from the average session volume of 11,443,820 shares. The stock had previously closed at $142.01.

Analysts Set New Price Targets

Several equities research analysts have issued reports on GLW shares. Fox Advisors cut Corning from an “overweight” rating to an “equal weight” rating in a research note on Thursday, January 29th. Barclays set a $100.00 price target on Corning in a report on Thursday, January 29th. Susquehanna raised their price objective on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. UBS Group upped their target price on shares of Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Finally, Bank of America lifted their price target on shares of Corning from $144.00 to $155.00 and gave the company a “buy” rating in a research report on Monday. Eleven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $132.67.

Corning Price Performance

The company has a fifty day moving average of $125.87 and a 200-day moving average of $99.18. The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The stock has a market cap of $117.64 billion, a PE ratio of 74.43, a P/E/G ratio of 2.31 and a beta of 1.05.

Corning (NYSE:GLW) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, beating the consensus estimate of $0.71 by $0.01. The company 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%.Corning’s revenue was up 13.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Sell-side analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The firm 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 dividend of $0.28 per share. This represents a $1.12 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio is presently 60.87%.

Insider Activity at Corning

In related news, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction on Thursday, February 26th. The stock was sold at an average price of $155.37, for a total value of $21,365,550.18. Following the completion of the transaction, the chief executive officer directly owned 750,585 shares in the company, valued at approximately $116,618,391.45. This trade represents a 15.48% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Lewis A. Steverson sold 15,366 shares of the business’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the transaction, 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 ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 233,201 shares of company stock worth $32,614,558 over the last 90 days. 0.40% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Corning

A number of hedge funds have recently bought and sold shares of the stock. Lansforsakringar Fondforvaltning AB publ increased its stake in shares of Corning by 4.9% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock worth $21,471,000 after purchasing an additional 12,297 shares in the last quarter. Hartline Investment Corp grew its stake in shares of Corning by 113.2% during the 3rd quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker’s stock valued at $24,229,000 after buying an additional 156,843 shares during the period. Natixis Advisors LLC increased its holdings in shares of Corning by 32.1% during the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after buying an additional 116,583 shares during the last quarter. Schroder Investment Management Group increased its holdings in shares of Corning by 638.0% during the 2nd quarter. Schroder Investment Management Group now owns 546,407 shares of the electronics maker’s stock worth $28,736,000 after buying an additional 472,365 shares during the last quarter. Finally, Caprock Group LLC purchased a new position in shares of Corning in the 3rd quarter worth $3,355,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.