Corning (NYSE:GLW) Shares Up 4.4% – Still a Buy?

Corning Incorporated (NYSE:GLW) rose 4.4% on Monday . The company traded as high as $176.94 and last traded at $173.29. 11,087,560 shares were traded during trading, a decline of 14% from the average session volume of 12,941,553 shares. The stock had previously closed at $165.99.

Analyst Ratings Changes

A number of analysts have recently commented on GLW shares. Wall Street Zen downgraded Corning from a “strong-buy” rating to a “buy” rating in a research note on Sunday. Truist Financial upgraded Corning from a “hold” rating to a “buy” rating and reduced their price target for the company from $205.00 to $175.00 in a research report on Sunday, August 2nd. Oppenheimer decreased their price target on Corning from $230.00 to $200.00 and set an “outperform” rating for the company in a report on Wednesday, July 29th. Morgan Stanley lowered their price objective on Corning from $180.00 to $165.00 and set an “equal weight” rating on the stock in a research report on Wednesday, July 29th. Finally, Mizuho dropped their price objective on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, July 29th. Eleven analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to data from MarketBeat.com, Corning currently has a consensus rating of “Moderate Buy” and an average target price of $174.08.

Corning Price Performance

The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. The stock has a 50-day moving average price of $176.82 and a 200 day moving average price of $161.92. The stock has a market capitalization of $149.27 billion, a price-to-earnings ratio of 79.13, a PEG ratio of 2.12 and a beta of 1.14.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping analysts’ consensus estimates of $0.76 by $0.02. The company had revenue of $4.74 billion during the quarter, compared to analysts’ expectations of $4.63 billion. Corning had a return on equity of 20.09% and a net margin of 11.20%.Corning’s quarterly revenue was up 17.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.60 EPS. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, equities research analysts expect that Corning Incorporated will post 3.27 earnings per share for the current year.

Corning Dividend Announcement

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. This represents a $1.12 annualized dividend and a dividend yield of 0.6%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is presently 51.14%.

Insiders Place Their Bets

In related news, SVP Jaymin Amin sold 27,395 shares of the firm’s 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 approximately $18,138,016. This trade represents a 22.49% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction dated 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 approximately $169,371,500.38. The trade was a 9.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 0.25% of the stock is currently owned by company insiders.

Institutional Trading of Corning

Several large investors have recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Corning in the fourth quarter valued at about $921,435,000. Bank of New York Mellon Corp acquired a new position in Corning during the second quarter worth about $1,510,911,000. Capital Research Global Investors grew its stake in Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares in the last quarter. Legal & General Group Plc purchased a new stake in Corning during the 2nd quarter valued at about $1,212,283,000. Finally, Bank of America Corp DE raised its holdings in Corning by 29.2% in the 2nd quarter. Bank of America Corp DE now owns 18,730,616 shares of the electronics maker’s stock valued at $4,784,361,000 after acquiring an additional 4,231,507 shares during the last quarter. 69.80% of the stock is currently owned by hedge funds and other institutional investors.

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.