Corning Incorporated (NYSE:GLW) Shareholders to Get $0.28 Quarterly Dividend

Corning Incorporated (NYSE:GLW) declared a quarterly dividend on Wednesday, October 7th. Stockholders of record on Friday, November 13th will be given a dividend of $0.28 per share by the electronics maker on Friday, December 11th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Friday, November 13th.

Corning has raised its dividend payment by an average of 0.0%per year over the last three years. Corning has a dividend payout ratio of 41.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect Corning to earn $4.29 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 26.1%.

Corning Price Performance

NYSE:GLW opened at $163.12 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The company has a 50-day moving average of $155.06 and a 200-day moving average of $168.44. Corning has a 52 week low of $77.39 and a 52 week high of $271.78. The company has a market capitalization of $140.51 billion, a price-to-earnings ratio of 74.48, a PEG ratio of 2.15 and a beta of 1.13.

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

Insider Buying and Selling

In related news, EVP Lewis Steverson sold 13,100 shares of the firm’s stock in a transaction on Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the completion of the sale, the executive vice president directly owned 15,052 shares of the company’s stock, valued at $2,277,217.08. This trade represents a 46.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of Corning

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. State Street Corp grew its holdings in Corning by 13.4% during the 2nd quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after acquiring an additional 4,845,027 shares during the last quarter. Bank of America Corp DE grew its stake in shares of Corning by 29.2% during the second quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after purchasing an additional 4,231,507 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of Corning by 50.9% in the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock valued at $3,365,084,000 after purchasing an additional 4,446,514 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in shares of Corning in the second quarter valued at approximately $1,510,911,000. Finally, Legal & General Group Plc bought a new position in Corning in the 2nd quarter worth approximately $1,212,283,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

Corning Company Profile

Corning Incorporated (NYSE: GLW) is a global materials science and technology company headquartered in Corning, New York. Founded in 1851, the company develops specialized glass, ceramics and optical technologies for customers in the communications, consumer electronics, automotive, life sciences and industrial markets.

Its Optical Communications segment supplies fiber, cable, hardware and related solutions used in telecommunications and data center networks. Corning also produces glass substrates for flat-panel displays, including televisions, monitors and other electronic devices, as well as specialty cover glass such as Gorilla Glass for mobile devices and other consumer electronics.

Additional products include automotive emissions-control substrates and filters, pharmaceutical and laboratory glassware, and advanced glass and ceramic materials used in semiconductor, aerospace, environmental and other applications.