Corning (NYSE:GLW) Stock Price Down 2.5% – Here’s What Happened

Corning Incorporated (NYSE:GLW)’s stock price dropped 2.5% during trading on Friday . The company traded as low as $146.94 and last traded at $154.4710. 14,195,205 shares traded hands during mid-day trading, an increase of 10% from the average session volume of 12,873,261 shares. The stock had previously closed at $158.39.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. JPMorgan Chase & Co. increased their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Zacks Research downgraded Corning from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, May 26th. Finally, Truist Financial boosted their price objective on Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $194.69.

Corning Stock Performance

The stock’s 50 day simple moving average is $193.45 and its two-hundred day simple moving average is $152.83. The company has a market capitalization of $132.94 billion, a P/E ratio of 73.91, a P/E/G ratio of 2.29 and a beta of 1.09. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

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 business had revenue of $4.34 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. Corning’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts expect that Corning Incorporated will post 3.18 earnings per share for the current year.

Corning Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be paid a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio (DPR) is 53.59%.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of the business’s stock in a transaction dated 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 directly owned 908,353 shares of the company’s stock, valued at approximately $169,371,500.38. The trade was a 9.92% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the company’s stock in a transaction dated 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 transaction, the senior vice president owned 94,400 shares in the company, valued at approximately $18,138,016. The trade was a 22.49% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 over the last ninety days. Company insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

Several institutional investors have recently modified their holdings of GLW. Trust Asset Management LLC lifted its holdings in Corning by 1.0% in the second quarter. Trust Asset Management LLC now owns 8,648 shares of the electronics maker’s stock valued at $2,209,000 after buying an additional 85 shares during the period. First Community Trust NA acquired a new stake in Corning during the 2nd quarter worth $72,000. Regent Peak Wealth Advisors LLC grew its holdings in Corning by 2.0% during the 2nd quarter. Regent Peak Wealth Advisors LLC now owns 3,569 shares of the electronics maker’s stock worth $912,000 after acquiring an additional 70 shares during the period. Annex Advisory Services LLC bought a new stake in shares of Corning during the 2nd quarter valued at $284,000. Finally, Tema ETFs LLC raised its position in shares of Corning by 10.5% during the 2nd quarter. Tema ETFs LLC now owns 13,723 shares of the electronics maker’s stock valued at $3,505,000 after acquiring an additional 1,305 shares during the last quarter. 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.