Corning (NYSE:GLW) Shares Up 1.3% – Should You Buy?

Corning Incorporated (NYSE:GLW) shot up 1.3% during mid-day trading on Tuesday . The stock traded as high as $150.81 and last traded at $147.4490. Approximately 6,640,807 shares changed hands during mid-day trading, a decline of 48% from the average daily volume of 12,806,977 shares. The stock had previously closed at $145.55.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Truist Financial upgraded shares of Corning from a “hold” rating to a “buy” rating and cut their price objective for the stock from $205.00 to $175.00 in a research note on Sunday, August 2nd. UBS Group reiterated a “buy” rating and issued a $196.00 price objective on shares of Corning in a report on Wednesday, July 29th. Zacks Research cut shares of Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Citigroup lowered their price objective on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Finally, JPMorgan Chase & Co. reduced their price target on shares of Corning from $200.00 to $170.00 and set a “neutral” rating on the stock in a research note on Wednesday, July 29th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to MarketBeat.com, Corning presently has an average rating of “Moderate Buy” and an average target price of $174.08.

Corning Stock Performance

The firm has a 50 day moving average of $172.96 and a two-hundred day moving average of $164.50. The company has a debt-to-equity ratio of 0.59, a current ratio of 1.81 and a quick ratio of 1.24. The stock has a market cap of $130.07 billion, a PE ratio of 68.97, a PEG ratio of 1.88 and a beta of 1.14.

Corning (NYSE:GLW) last announced its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, topping the consensus estimate of $0.76 by $0.02. The firm had revenue of $4.74 billion for the quarter, compared to analyst estimates of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. Corning’s revenue for the quarter was up 17.1% compared to the same quarter last year. During the same period last year, the business earned $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Research analysts predict that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. Corning’s dividend payout ratio is 51.14%.

Insiders Place Their Bets

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares in the company, valued at approximately $169,371,500.38. This trade represents a 9.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Brighton Jones LLC raised its holdings in Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after purchasing an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. purchased a new position in Corning during the first quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of Corning by 9.3% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after acquiring an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Corning during the 2nd quarter valued at $401,000. Finally, Schnieders Capital Management LLC. acquired a new position in shares of Corning in the 2nd quarter valued at about $266,000. Hedge funds and other 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.