Corning (NYSE:GLW) Shares Down 3.8% – Here’s Why

Corning Incorporated (NYSE:GLW) traded down 3.8% on Monday . The stock traded as low as $142.09 and last traded at $142.3560. 3,268,679 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 11,304,228 shares. The stock had previously closed at $147.92.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on GLW. Susquehanna increased their target price on Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research note on Thursday, January 29th. Morgan Stanley upped their price objective on shares of Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a research note on Monday, February 23rd. UBS Group increased their target price on Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, February 20th. Barclays set a $100.00 price objective on shares of Corning in a research report on Thursday, January 29th. Finally, Mizuho set a $145.00 price target on Corning in a research note on Monday, February 23rd. Eleven investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $132.08.

Corning Stock Performance

The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62. The stock has a market capitalization of $124.16 billion, a PE ratio of 78.63, a PEG ratio of 2.33 and a beta of 1.06. The firm has a 50 day moving average price of $131.42 and a 200-day moving average price of $102.22.

Corning (NYSE:GLW) last issued its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.01. The firm had revenue of $4.41 billion for the quarter, compared to analyst estimates of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.Corning’s revenue for the quarter was up 13.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.57 earnings per share. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Research analysts expect that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 30th. Shareholders of record on Friday, February 27th were given 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 was Friday, February 27th. Corning’s dividend payout ratio (DPR) is currently 60.87%.

Insider Buying and Selling at Corning

In other Corning news, CFO Edward A. Schlesinger sold 21,104 shares of Corning 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 in the company, valued at approximately $5,727,249. This trade represents a 27.81% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of the business’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 transaction, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at approximately $116,618,391.45. This trade represents a 15.48% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 233,201 shares of company stock worth $32,614,558. Insiders own 0.40% of the company’s stock.

Institutional Investors Weigh In On Corning

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