Corning (NYSE:GLW) Stock Price Up 11.3% – Here’s What Happened

Corning Incorporated (NYSE:GLW)’s stock price rose 11.3% on Thursday . The stock traded as high as $196.02 and last traded at $195.2790. Approximately 22,163,901 shares changed hands during mid-day trading, an increase of 82% from the average daily volume of 12,159,388 shares. The stock had previously closed at $175.40.

Wall Street Analysts Forecast Growth

GLW has been the subject of several research reports. Oppenheimer upped their price objective on shares of Corning from $120.00 to $210.00 and gave the stock an “outperform” rating in a report on Thursday, May 7th. Citigroup lifted their target price on shares of Corning from $175.00 to $225.00 and gave the company a “buy” rating in a research note on Thursday, May 7th. UBS Group boosted their price target on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a research report on Friday, June 5th. Barclays increased their price target on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Finally, Bank of America raised their price objective on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a report on Monday, April 20th. 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 MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $178.31.

Corning Price Performance

The firm has a market cap of $168.06 billion, a PE ratio of 93.44, a price-to-earnings-growth ratio of 2.54 and a beta of 1.15. 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 firm has a 50-day simple moving average of $179.09 and a 200 day simple moving average of $136.06.

Corning (NYSE:GLW) last released 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. The firm had revenue of $4.34 billion for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

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

Insider Buying and Selling at Corning

In other news, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $206.23, for a total value of $4,124,600.00. Following the sale, the senior vice president directly owned 25,570 shares of the company’s stock, valued at $5,273,301.10. The trade was a 43.89% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of the company’s stock in a transaction that occurred on Tuesday, June 9th. The stock was sold at an average price of $186.46, for a total value of $18,646,000.00. Following the completion of the sale, the chief executive officer owned 908,353 shares in the company, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 160,655 shares of company stock valued at $30,692,560. 0.25% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Corning

Several hedge funds have recently added to or reduced their stakes in GLW. Brighton Jones LLC increased its holdings 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 valued at $319,000 after acquiring an additional 2,114 shares in the last quarter. Retirement Planning Co of New England Inc. bought a new position in Corning in the 1st quarter worth about $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in Corning by 9.3% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after purchasing an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Corning during the 2nd quarter valued at about $401,000. Finally, Schnieders Capital Management LLC. bought a new stake in Corning during the 2nd quarter valued at about $266,000. 69.80% of the stock is owned by 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.