Corning (NYSE:GLW) Trading Down 2.2% – Here’s What Happened

Corning Incorporated (NYSE:GLW) fell 2.2% during trading on Friday . The stock traded as low as $207.73 and last traded at $223.00. 45,186,732 shares were traded during mid-day trading, an increase of 256% from the average daily volume of 12,685,979 shares. The stock had previously closed at $228.01.

Analyst Ratings Changes

Several research firms have issued reports on GLW. Citigroup increased their price objective on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a report on Thursday, May 7th. JPMorgan Chase & Co. boosted their target price on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Susquehanna upped their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Finally, Morgan Stanley set a $180.00 price objective on Corning in a report on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning has an average rating of “Moderate Buy” and a consensus price target of $182.62.

Corning Stock Performance

The company has a market cap of $191.92 billion, a price-to-earnings ratio of 106.70, a PEG ratio of 2.95 and a beta of 1.15. The firm’s 50 day simple moving average is $183.60 and its 200-day simple moving average is $141.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. The business had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, sell-side analysts predict that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. Corning’s dividend payout ratio is presently 53.59%.

Insider Buying and Selling at Corning

In other news, VP John Z. Zhang sold 10,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the transaction, the vice president directly owned 5,138 shares in the company, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Soumya Seetharam sold 20,000 shares of the company’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $206.23, for a total value of $4,124,600.00. Following the completion of the sale, the senior vice president owned 25,570 shares of the company’s stock, valued at $5,273,301.10. This trade represents a 43.89% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of Corning in the third quarter valued at about $25,000. Berbice Capital Management LLC purchased a new position in Corning during the fourth quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in Corning in the 4th quarter valued at about $26,000. Kemnay Advisory Services Inc. acquired a new position in Corning in the 4th quarter valued at about $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning in the 4th quarter valued at approximately $31,000. 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.