Corning (NYSE:GLW) Stock Price Up 6.1% – Should You Buy?

Corning Incorporated (NYSE:GLW) traded up 6.1% during mid-day trading on Monday . The stock traded as high as $147.94 and last traded at $146.67. Approximately 12,342,574 shares were traded during trading, a decline of 6% from the average daily volume of 13,119,972 shares. The stock had previously closed at $138.25.

Wall Street Analyst Weigh In

Several research firms recently commented on GLW. JPMorgan Chase & Co. dropped their price target on Corning from $200.00 to $170.00 and set a “neutral” rating for the company in a research report on Wednesday, July 29th. Weiss Ratings downgraded Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. Oppenheimer lowered their price objective on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a research note on Wednesday, July 29th. Susquehanna lifted their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Finally, Truist Financial raised Corning from a “hold” rating to a “buy” rating and cut their target price for the company from $205.00 to $175.00 in a research report on Sunday. Ten investment 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, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.

Corning Stock Up 6.1%

The company’s fifty day moving average price is $182.92 and its 200-day moving average price is $157.24. The stock has a market cap of $126.34 billion, a P/E ratio of 66.97, a price-to-earnings-growth ratio of 1.78 and a beta of 1.14. The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81.

Corning (NYSE:GLW) last issued its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating the consensus estimate of $0.76 by $0.02. Corning had a net margin of 11.20% and a return on equity of 20.09%. The company had revenue of $4.74 billion for the quarter, compared to the consensus estimate of $4.63 billion. During the same period in the prior year, the firm posted $0.60 EPS. The firm’s revenue was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. Equities analysts forecast that Corning Incorporated will post 3.25 EPS for the current year.

Corning Announces Dividend

The firm 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 dividend of $0.28 per share. The ex-dividend date of this dividend is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.8%. Corning’s dividend payout ratio is currently 51.14%.

Insider Transactions at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction that occurred on Friday, May 22nd. The stock was 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 in the company, valued at approximately $18,138,016. This represents a 22.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This represents a 66.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 160,655 shares of company stock valued at $30,692,560. Company insiders own 0.25% of the company’s stock.

Institutional Trading of Corning

A number of large investors have recently made changes to their positions in the stock. Berbice Capital Management LLC purchased a new stake in Corning in the 4th quarter valued at about $26,000. Basepoint Wealth LLC purchased a new position in shares of Corning during the fourth quarter worth approximately $26,000. Atwood & Palmer Inc. purchased a new position in shares of Corning during the second quarter worth approximately $26,000. Kemnay Advisory Services Inc. bought a new stake in shares of Corning during the fourth quarter valued at approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new stake in shares of Corning during the fourth quarter valued at approximately $31,000. 69.80% of the stock is 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.