Corning (NYSE:GLW) Stock Price Up 2.5% – Still a Buy?

Corning Incorporated (NYSE:GLW) shares were up 2.5% during mid-day trading on Thursday . The company traded as high as $155.75 and last traded at $147.7390. 8,322,763 shares were traded during trading, a decline of 33% from the average daily volume of 12,440,776 shares. The stock had previously closed at $144.16.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Barclays reduced their target price on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 29th. Citigroup reduced their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. Wall Street Zen lowered shares of Corning from a “buy” rating to a “hold” rating in a research note on Monday, August 24th. Oppenheimer cut their target price on Corning from $230.00 to $200.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Finally, Mizuho reduced their target price on Corning from $210.00 to $180.00 and set an “outperform” rating for the company in a report on Tuesday. Twelve equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $176.50.

Corning Stock Up 2.5%

The company has a market capitalization of $127.26 billion, a PE ratio of 67.46, a P/E/G ratio of 1.83 and a beta of 1.16. The stock’s fifty day moving average is $155.96 and its two-hundred day moving average is $166.17. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59.

Corning (NYSE:GLW) last posted its quarterly earnings data on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The business had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. Corning had a net margin of 11.20% and a return on equity of 20.09%. The firm’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter last year, the company posted $0.60 earnings per share. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts predict that Corning Incorporated will post 3.28 EPS for the current year.

Corning Dividend Announcement

The company also recently declared 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 0.8%. Corning’s dividend payout ratio is presently 51.14%.

Insiders Place Their Bets

In related news, EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total value of $1,981,899.00. Following the sale, the executive vice president directly owned 15,052 shares in the company, valued at approximately $2,277,217.08. The trade was a 46.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

Hedge funds and other institutional investors have recently modified their holdings of the business. Reynders McVeigh Capital Management LLC purchased a new position in Corning in the 2nd quarter valued at approximately $295,000. SkyView Investment Advisors LLC purchased a new stake in shares of Corning during the second quarter worth $255,000. ABS Direct Equity Fund LLC bought a new position in shares of Corning in the second quarter worth $65,000. Sequoia Financial Advisors LLC grew its position in shares of Corning by 0.7% in the second quarter. Sequoia Financial Advisors LLC now owns 61,122 shares of the electronics maker’s stock valued at $15,612,000 after purchasing an additional 449 shares in the last quarter. Finally, IPG Investment Advisors LLC grew its position in shares of Corning by 18.9% in the second quarter. IPG Investment Advisors LLC now owns 1,821 shares of the electronics maker’s stock valued at $465,000 after purchasing an additional 290 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

About Corning

Corning Incorporated (NYSE: GLW) is a global materials science and technology company that develops specialty glass, ceramics and optical fiber products. Founded in 1851 and headquartered in Corning, New York, the company combines expertise in glass science, ceramics science, optical physics and manufacturing to serve communications, consumer electronics, automotive, life sciences and other industrial markets.

Corning’s products include optical fiber, cable and hardware used in telecommunications networks; cover glass and other components for mobile devices, laptops and other electronics; display glass for televisions and computer monitors; emissions-control products for automobiles and trucks; laboratory vessels and equipment; and specialty glass and ceramic products for industrial, semiconductor and aerospace applications.

The company serves customers worldwide through manufacturing, research and commercial operations across North America, Europe and Asia.