Corning (NYSE:GLW) Shares Down 1.6% – Here’s Why

Corning Incorporated (NYSE:GLW)’s stock price traded down 1.6% during trading on Tuesday . The stock traded as low as $124.60 and last traded at $129.9090. 10,223,245 shares traded hands during mid-day trading, a decline of 7% from the average session volume of 10,990,666 shares. The stock had previously closed at $132.05.

Analyst Upgrades and Downgrades

GLW has been the subject of several analyst reports. Morgan Stanley boosted their price objective on Corning from $103.00 to $127.00 and gave the stock an “equal weight” rating in a research report on Monday, February 23rd. Susquehanna lifted their target price on Corning from $100.00 to $125.00 and gave the company a “positive” rating in a research note on Thursday, January 29th. Wolfe Research set a $130.00 price target on Corning and gave the stock an “outperform” rating in a research note on Tuesday, January 27th. Fox Advisors lowered Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. Finally, UBS Group lifted their price objective on shares of Corning from $125.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, February 20th. Eleven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $131.75.

Corning Stock Performance

The stock has a market cap of $114.66 billion, a price-to-earnings ratio of 72.63, a price-to-earnings-growth ratio of 2.05 and a beta of 1.05. The company’s 50-day simple moving average is $120.26 and its 200-day simple moving average is $96.60. The company has a quick ratio of 1.04, a current ratio of 1.59 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings data on Wednesday, January 28th. The electronics maker reported $0.72 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.01. The business had revenue of $4.41 billion during the quarter, compared to analyst estimates of $4.35 billion. Corning had a return on equity of 18.72% and a net margin of 10.21%.The company’s revenue was up 13.9% compared to the same quarter last year. During the same period last year, the company posted $0.57 EPS. Corning has set its Q1 2026 guidance at 0.660-0.700 EPS. Analysts predict that Corning Incorporated will post 2.33 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, March 30th. Stockholders of record on Friday, February 27th will be issued a dividend of $0.28 per share. This represents a $1.12 annualized dividend and a dividend yield of 0.8%. The ex-dividend date is Friday, February 27th. Corning’s payout ratio is currently 60.87%.

Insiders Place Their Bets

In related news, SVP Li Fang sold 9,797 shares of the stock in a transaction on Wednesday, February 4th. The stock was sold at an average price of $113.51, for a total transaction of $1,112,057.47. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction on Thursday, February 26th. The shares were sold at an average price of $155.37, for a total value of $21,365,550.18. Following the sale, the chief executive officer directly owned 750,585 shares of the company’s stock, valued at approximately $116,618,391.45. The trade was a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 233,201 shares of company stock valued at $32,614,558 in the last three months. Company insiders own 0.40% of the company’s stock.

Institutional Trading of Corning

Institutional investors and hedge funds have recently made changes to their positions in the stock. Pinpoint Asset Management Singapore Pte. Ltd. bought a new stake in shares of Corning during the 3rd quarter worth $25,000. Berbice Capital Management LLC acquired a new position in shares of Corning during the 4th quarter worth about $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning during the 4th quarter worth about $26,000. Strengthening Families & Communities LLC bought a new stake in Corning during the 3rd quarter valued at approximately $27,000. Finally, Kemnay Advisory Services Inc. bought a new stake in Corning during the 4th quarter valued at approximately $27,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.