Corning (NYSE:GLW) Trading Down 6.1% – Should You Sell?

Shares of Corning Incorporated (NYSE:GLW) fell 6.1% during mid-day trading on Friday . The company traded as low as $145.93 and last traded at $146.57. Approximately 8,855,237 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 12,731,310 shares. The stock had previously closed at $156.06.

Analyst Upgrades and Downgrades

Several research firms have recently commented on GLW. Barclays raised their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research report on Friday, May 8th. Oppenheimer increased their target price on shares of Corning from $210.00 to $230.00 and gave the company an “outperform” rating in a research report on Tuesday, July 7th. Morgan Stanley set a $180.00 price objective on shares of Corning in a research report on Friday, May 8th. JPMorgan Chase & Co. upped their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Thursday, May 7th. Finally, Mizuho lifted their price target on Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Ten equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $194.69.

Corning Stock Performance

The stock has a 50-day moving average price of $188.92 and a 200 day moving average price of $155.20. 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 cap of $126.14 billion, a PE ratio of 70.13, a P/E/G ratio of 2.03 and a beta of 1.09.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the prior year, the firm earned $0.54 EPS. The firm’s quarterly revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts forecast that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be given a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a yield of 0.8%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio is 53.59%.

Insiders Place Their Bets

In related news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president directly owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 over the last three months. Company insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GLW. Trust Asset Management LLC boosted its position in Corning by 1.0% during the second quarter. Trust Asset Management LLC now owns 8,648 shares of the electronics maker’s stock valued at $2,209,000 after purchasing an additional 85 shares during the last quarter. First Community Trust NA bought a new stake in shares of Corning during the second quarter worth approximately $72,000. Regent Peak Wealth Advisors LLC grew its holdings in Corning by 2.0% in the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 3,569 shares of the electronics maker’s stock valued at $912,000 after buying an additional 70 shares in the last quarter. Annex Advisory Services LLC bought a new position in Corning during the second quarter worth about $284,000. Finally, Tema ETFs LLC increased its holdings in shares of Corning by 10.5% during the second quarter. Tema ETFs LLC now owns 13,723 shares of the electronics maker’s stock worth $3,505,000 after purchasing an additional 1,305 shares during the period. Institutional investors 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.