Corning (NYSE:GLW) Stock Falls 5.1% – Time to Sell?

Corning Incorporated (NYSE:GLW)’s share price fell 5.1% on Wednesday. The company traded as low as $139.25 and last traded at $140.8930. 8,852,386 shares were traded during mid-day trading, a decline of 26% from the average daily volume of 11,984,023 shares. The stock had previously closed at $148.54.

Analyst Ratings Changes

A number of equities analysts have recently commented on GLW shares. 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 note on Wednesday, July 29th. Mizuho reduced their price target on Corning from $210.00 to $180.00 and set an “outperform” rating for the company in a research report on Tuesday, September 15th. The Goldman Sachs Group restated an “outperform” rating on shares of Corning in a research note on Tuesday, September 15th. Truist Financial boosted their price target on Corning from $175.00 to $182.00 and gave the stock a “buy” rating in a research report on Friday, October 2nd. Finally, UBS Group upped their price target on shares of Corning from $196.00 to $201.00 and gave the stock a “buy” rating in a research report on Monday, October 5th. Thirteen investment analysts have rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, Corning currently has a consensus rating of “Moderate Buy” and a consensus target price of $177.56.

Corning Price Performance

The company has a market capitalization of $114.84 billion, a P/E ratio of 60.94, a price-to-earnings-growth ratio of 1.80 and a beta of 1.13. 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 company’s 50-day moving average price is $154.85 and its two-hundred day moving average price is $168.92.

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

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Shareholders of record on Friday, November 13th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 13th. Corning’s dividend payout ratio is presently 51.14%.

Insider Activity at Corning

In other news, EVP Lewis Steverson sold 13,100 shares of Corning stock in a transaction that occurred on Friday, August 28th. The shares were sold at an average price of $151.29, for a total value of $1,981,899.00. Following the completion of 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

A number of large investors have recently added to or reduced their stakes in GLW. Atwood & Palmer Inc. acquired a new stake in shares of Corning during the 2nd quarter worth $26,000. Rogco LP bought a new stake in Corning during the second quarter worth about $27,000. Toth Financial Advisory Corp grew its stake in Corning by 130.7% during the third quarter. Toth Financial Advisory Corp now owns 173 shares of the electronics maker’s stock worth $27,000 after buying an additional 98 shares in the last quarter. Cornerstone Financial Management LLC grew its stake in Corning by 63.3% during the second quarter. Cornerstone Financial Management LLC now owns 196 shares of the electronics maker’s stock worth $50,000 after buying an additional 76 shares in the last quarter. Finally, First PREMIER Bank bought a new position in Corning in the 2nd quarter valued at about $51,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.