Corning (NYSE:GLW) Shares Down 2.7% After Insider Selling

Corning Incorporated (NYSE:GLW)’s stock price was down 2.7% during mid-day trading on Wednesday following insider selling activity. The company traded as low as $185.30 and last traded at $190.9660. Approximately 11,019,274 shares changed hands during mid-day trading, a decline of 8% from the average daily volume of 12,012,893 shares. The stock had previously closed at $196.17.

Specifically, SVP Jaymin Amin sold 27,395 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the senior vice president owned 94,400 shares in the company, valued at $18,138,016. This trade represents a 22.49% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on GLW. JPMorgan Chase & Co. upped their target price on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Citigroup upped 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. Oppenheimer raised their target price on shares of Corning from $120.00 to $210.00 and gave the company an “outperform” rating in a research note on Thursday, May 7th. Truist Financial upped their price target on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a research report on Wednesday, April 29th. Finally, Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. One investment analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $177.92.

Corning Stock Performance

The stock has a market capitalization of $164.35 billion, a P/E ratio of 91.37, a PEG ratio of 2.78 and a beta of 1.14. The stock’s 50-day simple moving average is $164.19 and its 200 day simple moving average is $124.80. 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 issued its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $4.35 billion for 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 company’s revenue was up 18.1% on a year-over-year basis. 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. Research analysts expect that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Dividend Announcement

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

Institutional Investors Weigh In On Corning

A number of large investors have recently added to or reduced their stakes in the stock. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Corning in the third quarter worth $25,000. Berbice Capital Management LLC bought a new stake in shares of Corning during the 4th quarter worth approximately $26,000. Basepoint Wealth LLC acquired a new position in Corning in the fourth quarter valued at $26,000. Strengthening Families & Communities LLC bought a new stake in Corning during the third quarter valued at $27,000. Finally, Kemnay Advisory Services Inc. acquired a new stake in Corning during the 4th quarter worth about $27,000. 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.