Corning (NYSE:GLW) Shares Down 1.6% – Should You Sell?
by Doug Wharley · The Cerbat GemShares of Corning Incorporated (NYSE:GLW – Get Free Report) dropped 1.6% during trading on Tuesday . The company traded as low as $124.60 and last traded at $129.9090. Approximately 10,223,245 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 10,990,666 shares. The stock had previously closed at $132.05.
Wall Street Analyst Weigh In
GLW has been the topic of several recent research reports. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Friday, January 23rd. Bank of America boosted their price objective on Corning from $120.00 to $144.00 and gave the stock a “buy” rating in a research note on Thursday, March 12th. Mizuho set a $145.00 target price on Corning in a research report on Monday, February 23rd. Morgan Stanley increased their target price on Corning from $103.00 to $127.00 and gave the company an “equal weight” rating in a research note on Monday, February 23rd. Finally, Weiss Ratings raised Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Eleven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $131.75.
View Our Latest Stock Analysis on Corning
Corning Trading Down 1.6%
The company has a current ratio of 1.59, a quick ratio of 1.04 and a debt-to-equity ratio of 0.62. The business has a 50 day simple moving average of $118.61 and a two-hundred day simple moving average of $95.93. The stock has a market cap of $111.46 billion, a price-to-earnings ratio of 70.60, a price-to-earnings-growth ratio of 2.04 and a beta of 1.04.
Corning (NYSE:GLW – Get Free Report) last released its earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, beating the consensus estimate of $0.71 by $0.01. The company had revenue of $4.41 billion during the quarter, compared to analysts’ expectations of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The business’s revenue was up 13.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 2.33 EPS for the current year.
Corning Announces Dividend
The business also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be given a $0.28 dividend. The ex-dividend date of this dividend is Friday, February 27th. This represents a $1.12 annualized dividend and a dividend yield of 0.9%. Corning’s payout ratio is presently 60.87%.
Insider Buying and Selling at Corning
In other Corning news, insider Eric S. Musser sold 25,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $110.00, for a total transaction of $2,750,000.00. Following the transaction, the insider owned 19,926 shares of the company’s stock, valued at $2,191,860. This trade represents a 55.65% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, SVP Li Fang sold 9,797 shares of the business’s stock in a transaction that occurred on Wednesday, February 4th. The shares were sold at an average price of $113.51, for a total value of $1,112,057.47. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have sold 233,201 shares of company stock valued at $32,614,558. Corporate insiders own 0.32% of the company’s stock.
Hedge Funds Weigh In On Corning
Several large investors have recently added to or reduced their stakes in GLW. Beese Fulmer Investment Management Inc. lifted its position in shares of Corning by 2.5% in the 4th quarter. Beese Fulmer Investment Management Inc. now owns 3,836 shares of the electronics maker’s stock worth $336,000 after buying an additional 92 shares during the last quarter. 3Chopt Investment Partners LLC grew its position in shares of Corning by 1.0% during the 4th quarter. 3Chopt Investment Partners LLC now owns 10,248 shares of the electronics maker’s stock valued at $897,000 after buying an additional 97 shares during the last quarter. Patten & Patten Inc. TN raised its stake in Corning by 0.6% during the fourth quarter. Patten & Patten Inc. TN now owns 17,796 shares of the electronics maker’s stock worth $1,558,000 after acquiring an additional 100 shares during the period. Vermillion Wealth Management Inc. raised its stake in Corning by 32.8% during the fourth quarter. Vermillion Wealth Management Inc. now owns 405 shares of the electronics maker’s stock worth $36,000 after acquiring an additional 100 shares during the period. Finally, Joel Isaacson & Co. LLC lifted its holdings in Corning by 0.5% in the fourth quarter. Joel Isaacson & Co. LLC now owns 20,518 shares of the electronics maker’s stock worth $1,797,000 after acquiring an additional 102 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors.
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.