Corning (NYSE:GLW) Stock Price Up 6.1% – Here’s Why

Shares of Corning Incorporated (NYSE:GLW) were up 6.1% during trading on Wednesday . The stock traded as high as $217.09 and last traded at $205.9080. Approximately 19,036,090 shares were traded during mid-day trading, an increase of 54% from the average daily volume of 12,323,977 shares. The stock had previously closed at $194.07.

Wall Street Analyst Weigh In

GLW has been the subject of several research reports. Susquehanna boosted their price objective on shares of Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Citigroup increased their price objective on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Mizuho raised their price objective on Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Wall Street Zen lowered Corning from a “buy” rating to a “hold” rating in a research report on Saturday, June 6th. Finally, Truist Financial upped their target price on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a report on Monday. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $182.62.

Corning Stock Performance

The firm’s fifty day moving average price is $181.88 and its 200 day moving average price is $139.30. The firm has a market cap of $177.21 billion, a P/E ratio of 98.52, a price-to-earnings-growth ratio of 3.00 and a beta of 1.15. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping the consensus estimate of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. During the same period in the previous year, the company posted $0.54 EPS. The business’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. Sell-side analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be given a $0.28 dividend. 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 0.5%. Corning’s payout ratio is presently 53.59%.

Insider Activity

In related news, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction that occurred on Friday, May 22nd. The shares were sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the completion of the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 over the last 90 days. 0.25% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Brighton Jones LLC grew its stake in shares of Corning by 46.0% during the fourth quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock worth $319,000 after acquiring an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in Corning in the 1st quarter worth approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock worth $2,962,000 after purchasing an additional 5,522 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Corning during the 2nd quarter worth approximately $401,000. Finally, Schnieders Capital Management LLC. purchased a new stake in Corning during the 2nd quarter worth approximately $266,000. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

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.