Corning (NYSE:GLW) Stock Price Up 4.1% – Still a Buy?

Shares of Corning Incorporated (NYSE:GLW) shot up 4.1% during mid-day trading on Monday . The stock traded as high as $190.00 and last traded at $186.5410. 8,886,544 shares changed hands during trading, a decline of 26% from the average session volume of 12,067,981 shares. The stock had previously closed at $179.20.

Analysts Set New Price Targets

Several brokerages recently issued reports on GLW. Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a report on Saturday, June 6th. Susquehanna lifted their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Mizuho lifted their price objective on shares of Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a report on Tuesday, May 12th. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Thursday, May 7th. Finally, Morgan Stanley set a $180.00 price objective on shares of Corning in a report on Friday, May 8th. Ten analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $178.31.

Corning Stock Up 4.1%

The company’s fifty day simple moving average is $177.15 and its 200-day simple moving average is $134.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The firm has a market capitalization of $160.54 billion, a PE ratio of 89.25, a price-to-earnings-growth ratio of 2.56 and a beta of 1.15.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business had revenue of $4.35 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the company earned $0.54 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, analysts forecast that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s payout ratio is currently 53.59%.

Insiders Place Their Bets

In other Corning news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the completion of the transaction, the senior vice president directly owned 25,570 shares in the company, valued at $5,273,301.10. This represents a 43.89% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 160,655 shares of company stock valued at $30,692,561. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

Institutional investors and hedge funds have recently made changes to their positions in the stock. Merit Financial Group LLC raised its position in shares of Corning by 16.9% during the 4th quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock worth $3,940,000 after purchasing an additional 6,493 shares during the last quarter. Lansforsakringar Fondforvaltning AB publ grew its stake in Corning by 4.9% during the 3rd quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after acquiring an additional 12,297 shares in the last quarter. Security National Bank grew its stake in Corning by 340.4% during the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock valued at $6,350,000 after acquiring an additional 56,056 shares in the last quarter. Natixis Advisors LLC grew its stake in Corning by 32.1% during the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock valued at $39,367,000 after acquiring an additional 116,583 shares in the last quarter. Finally, Three Seasons Wealth LLC purchased a new stake in Corning during the 4th quarter valued at about $1,750,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

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.