Corning (NYSE:GLW) SVP Sells $674,885.20 in Stock

Corning Incorporated (NYSE:GLW) SVP Michaune Tillman sold 3,260 shares of Corning stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the completion of the sale, the senior vice president directly owned 10,174 shares of the company’s stock, valued at $2,106,221.48. The trade was a 24.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Corning Stock Up 0.8%

GLW stock opened at $208.07 on Friday. The company has a market cap of $179.07 billion, a price-to-earnings ratio of 99.55, a P/E/G ratio of 2.96 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The business’s 50-day moving average is $155.27 and its two-hundred day moving average is $119.17. Corning Incorporated has a fifty-two week low of $46.83 and a fifty-two week high of $211.79.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.35 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, analysts forecast that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be given a $0.28 dividend. The ex-dividend date is Friday, May 29th. This represents a $1.12 annualized dividend and a yield of 0.5%. Corning’s dividend payout ratio (DPR) is presently 53.59%.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on GLW. Barclays boosted their price objective on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research report on Friday, May 8th. Zacks Research upgraded Corning from a “hold” rating to a “strong-buy” rating in a research report on Monday, April 27th. Susquehanna upped their price target on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a research report on Wednesday, April 29th. Wall Street Zen downgraded Corning from a “buy” rating to a “hold” rating in a research note on Saturday, May 9th. Finally, UBS Group lifted their price objective on Corning from $179.00 to $223.00 and gave the company a “buy” rating in a research report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $177.92.

Hedge Funds Weigh In On Corning

Large investors have recently made changes to their positions in the business. Capital Research Global Investors bought a new stake in shares of Corning during the third quarter valued at approximately $907,164,000. Norges Bank purchased a new position in Corning during the fourth quarter valued at $921,435,000. WCM Investment Management LLC bought a new stake in Corning in the 3rd quarter valued at $676,931,000. Wellington Management Group LLP lifted its stake in 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 purchasing an additional 3,848,540 shares in the last quarter. Finally, Polar Capital Holdings Plc boosted its holdings in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock valued at $329,035,000 after purchasing an additional 2,348,125 shares during the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

Corning Company Profile

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.