Corning (NYSE:GLW) Stock Price Down 8.7% – Time to Sell?

Corning Incorporated (NYSE:GLW) fell 8.7% during trading on Tuesday . The company traded as low as $187.04 and last traded at $191.4920. Approximately 2,716,794 shares traded hands during mid-day trading, a decline of 78% from the average session volume of 12,125,813 shares. The stock had previously closed at $209.83.

Analysts Set New Price Targets

GLW has been the subject of several research reports. Truist Financial boosted their price objective on shares of Corning from $149.00 to $205.00 and gave the company a “hold” rating in a research report on Monday. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 26th. Oppenheimer upped their target price on Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Mizuho raised their price target on Corning from $190.00 to $220.00 and gave the company an “outperform” rating in a research note on Tuesday, May 12th. Finally, Bank of America upped their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $182.62.

Corning Stock Performance

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 stock has a market cap of $164.66 billion, a P/E ratio of 91.59, a price-to-earnings-growth ratio of 2.79 and a beta of 1.15. The firm’s 50 day moving average is $181.42 and its 200 day moving average is $138.52.

Corning (NYSE:GLW) last posted its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a net margin of 11.09% and a return on equity of 19.45%. The company had revenue of $4.34 billion during the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter in the prior year, the company posted $0.54 earnings per share. Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.

Corning Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Investors of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. Corning’s payout ratio is 53.59%.

Insider Buying and Selling at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total value of $5,263,675.30. Following the sale, the senior vice president directly owned 94,400 shares of the company’s stock, valued at $18,138,016. This represents a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the stock in a transaction on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 160,655 shares of company stock worth $30,692,560. Corporate insiders own 0.25% of the company’s stock.

Hedge Funds Weigh In On Corning

Several institutional investors and hedge funds have recently modified their holdings of GLW. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning in the 3rd quarter worth approximately $25,000. Berbice Capital Management LLC purchased a new position in shares of Corning during the 4th quarter valued at approximately $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning in the 4th quarter valued at $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning in the 4th quarter valued at $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in Corning during the fourth quarter worth $31,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

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.