Corning (NYSE:GLW) Insider Sells $1,953,750.00 in Stock

by · The Markets Daily

Corning Incorporated (NYSE:GLW – Get Free Report) insider Eric Musser sold 15,000 shares of the stock in a transaction that occurred on Monday, February 9th. The shares were sold at an average price of $130.25, for a total transaction of $1,953,750.00. Following the sale, the insider directly owned 4,926 shares of the company’s stock, valued at approximately $641,611.50. This trade represents a 75.28% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.

Corning Price Performance

Shares of GLW stock traded up $9.20 during mid-day trading on Monday, hitting $131.36. The company had a trading volume of 15,417,109 shares, compared to its average volume of 8,761,487. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.59 and a quick ratio of 1.04. The stock’s 50 day moving average price is $92.96 and its 200-day moving average price is $82.44. Corning Incorporated has a 52-week low of $37.31 and a 52-week high of $132.32. The company has a market capitalization of $112.62 billion, a P/E ratio of 71.39, a P/E/G ratio of 2.12 and a beta of 1.13.

Corning (NYSE:GLW – Get Free Report) last announced its quarterly earnings results on Wednesday, January 28th. The electronics maker reported $0.72 EPS for the quarter, topping the consensus estimate of $0.71 by $0.01. Corning had a net margin of 10.21% and a return on equity of 18.72%. The business had revenue of $4.41 billion for the quarter, compared to analysts’ expectations of $4.35 billion. During the same quarter in the previous year, the company earned $0.57 EPS. The business’s quarterly revenue was up 13.9% compared to the same quarter last year. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Equities research analysts forecast that Corning Incorporated will post 2.33 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have recently commented on GLW shares. Fox Advisors downgraded Corning from an “overweight” rating to an “equal weight” rating in a research report on Thursday, January 29th. Argus increased their price objective on shares of Corning from $68.00 to $110.00 and gave the company a “buy” rating in a research report on Wednesday, October 29th. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $100.00 to $115.00 and gave the stock an “overweight” rating in a research note on Wednesday, January 28th. Wolfe Research set a $130.00 target price on shares of Corning and gave the company an “outperform” rating in a research report on Tuesday, January 27th. Finally, Susquehanna increased their price target on shares of Corning from $100.00 to $125.00 and gave the company a “positive” rating in a report on Thursday, January 29th. Nine analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat, Corning has a consensus rating of “Moderate Buy” and an average price target of $112.36.

Get Our Latest Analysis on GLW

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Vanguard Group Inc. boosted its stake in shares of Corning by 0.6% during the fourth quarter. Vanguard Group Inc. now owns 99,283,317 shares of the electronics maker’s stock valued at $8,693,247,000 after purchasing an additional 580,678 shares in the last quarter. State Street Corp lifted its holdings in Corning by 1.2% during the third quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock worth $3,035,836,000 after buying an additional 439,883 shares during the period. Geode Capital Management LLC increased its holdings in shares of Corning by 0.6% in the 2nd quarter. Geode Capital Management LLC now owns 19,443,525 shares of the electronics maker’s stock valued at $1,018,629,000 after acquiring an additional 112,739 shares during the period. Wellington Management Group LLP raised its position in shares of Corning by 30.3% in the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock worth $1,358,211,000 after acquiring an additional 3,848,540 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its position in shares of Corning by 8.1% in the 2nd quarter. Ameriprise Financial Inc. now owns 13,763,148 shares of the electronics maker’s stock worth $724,432,000 after acquiring an additional 1,036,988 shares in the last quarter. Institutional investors own 69.80% of the company’s stock.

Corning Company Profile

(Get Free Report)

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.

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