Corning (NYSE:GLW) Trading Down 4.1% – Here’s What Happened

Shares of Corning Incorporated (NYSE:GLW) were down 4.1% during trading on Thursday . The company traded as low as $182.34 and last traded at $183.0630. Approximately 9,516,806 shares were traded during mid-day trading, a decline of 21% from the average daily volume of 11,988,464 shares. The stock had previously closed at $190.89.

Analyst Ratings Changes

A number of equities analysts have commented on GLW shares. JPMorgan Chase & Co. boosted their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Morgan Stanley set a $180.00 price objective on shares of Corning in a report on Friday, May 8th. Truist Financial boosted their price objective on shares of Corning from $125.00 to $149.00 and gave the stock a “hold” rating in a report on Wednesday, April 29th. Susquehanna boosted their price objective on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Finally, Bank of America boosted their target price on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research report on Monday, April 20th. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $177.92.

Corning Stock Performance

The company has a market capitalization of $156.09 billion, a P/E ratio of 86.78, a P/E/G ratio of 2.62 and a beta of 1.14. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The stock’s 50 day simple moving average is $167.47 and its two-hundred day simple moving average is $126.60.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, topping 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 $4.35 billion during the quarter, compared to the consensus estimate of $4.30 billion. During the same period in the previous year, the firm posted $0.54 earnings per share. The company’s revenue was up 18.1% on a year-over-year basis. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, research analysts expect that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued 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 dividend payout ratio is 53.59%.

Insider Activity at Corning

In other news, SVP Jaymin Amin sold 27,395 shares of the stock in a transaction dated 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 transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the completion of the transaction, the senior vice president directly owned 10,174 shares in the company, valued at $2,106,221.48. The trade was a 24.27% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 60,655 shares of company stock worth $12,046,561 over the last ninety days. 0.25% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Corning

A number of hedge funds have recently made changes to their positions in the stock. Signature Equity Partners LLC raised its stake in shares of Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock valued at $52,000 after acquiring an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC raised its stake in shares of Corning by 0.8% in the 1st quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after acquiring an additional 64 shares in the last quarter. Balefire LLC raised its stake in shares of Corning by 0.7% in the 1st quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after acquiring an additional 65 shares in the last quarter. Millstone Evans Group LLC raised its stake in shares of Corning by 1.3% in the 1st quarter. Millstone Evans Group LLC now owns 5,393 shares of the electronics maker’s stock valued at $733,000 after acquiring an additional 67 shares in the last quarter. Finally, Geneos Wealth Management Inc. grew its holdings in Corning by 1.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 4,585 shares of the electronics maker’s stock valued at $623,000 after buying an additional 70 shares during the last quarter. 69.80% of the stock is currently owned by institutional investors and hedge funds.

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.