Corning (NYSE:GLW) Trading 1.2% Higher – Here’s What Happened

Corning Incorporated (NYSE:GLW) rose 1.2% during mid-day trading on Friday . The company traded as high as $140.10 and last traded at $136.9440. Approximately 8,317,818 shares traded hands during trading, a decline of 27% from the average daily volume of 11,389,881 shares. The stock had previously closed at $135.32.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GLW. Oppenheimer set a $120.00 price objective on Corning in a report on Thursday, January 29th. Weiss Ratings raised shares of Corning from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, February 17th. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a research note on Friday, January 23rd. Susquehanna raised their price target on shares of Corning from $100.00 to $125.00 and gave the stock a “positive” rating in a research report on Thursday, January 29th. Finally, Citigroup lifted their price objective on shares of Corning from $120.00 to $170.00 and gave the stock a “buy” rating in a research note on Wednesday, February 25th. Eleven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $132.67.

Corning Stock Up 1.2%

The firm’s 50-day moving average price is $125.87 and its 200 day moving average price is $99.18. 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 company has a market capitalization of $117.64 billion, a price-to-earnings ratio of 74.43, a PEG ratio of 2.31 and a beta of 1.05.

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

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 30th. Shareholders of record on Friday, February 27th will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date of this dividend is Friday, February 27th. Corning’s dividend payout ratio (DPR) is currently 60.87%.

Insider Buying and Selling

In related news, EVP Lewis A. Steverson sold 15,366 shares of the firm’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $130.22, for a total value of $2,000,960.52. Following the sale, the executive vice president directly owned 3,461 shares of the company’s stock, valued at $450,691.42. This trade represents a 81.62% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Wendell P. Weeks sold 137,514 shares of Corning stock in a transaction dated 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 completion of the transaction, the chief executive officer owned 750,585 shares in the company, valued at approximately $116,618,391.45. This represents a 15.48% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 233,201 shares of company stock worth $32,614,558. 0.40% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Lansforsakringar Fondforvaltning AB publ increased its stake in shares of Corning by 4.9% in the third quarter. Lansforsakringar Fondforvaltning AB publ now owns 261,749 shares of the electronics maker’s stock valued at $21,471,000 after buying an additional 12,297 shares during the period. Hartline Investment Corp boosted its position in Corning by 113.2% during the 3rd quarter. Hartline Investment Corp now owns 295,362 shares of the electronics maker’s stock worth $24,229,000 after buying an additional 156,843 shares during the period. Natixis Advisors LLC grew its holdings in Corning by 32.1% during the 3rd quarter. Natixis Advisors LLC now owns 479,921 shares of the electronics maker’s stock worth $39,367,000 after acquiring an additional 116,583 shares during the last quarter. Schroder Investment Management Group grew its holdings in Corning by 638.0% during the 2nd quarter. Schroder Investment Management Group now owns 546,407 shares of the electronics maker’s stock worth $28,736,000 after acquiring an additional 472,365 shares during the last quarter. Finally, Caprock Group LLC acquired a new position in Corning in the 3rd quarter valued at approximately $3,355,000. Institutional investors 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.