Corning (NYSE:GLW) Shares Down 2.8% – Here’s What Happened

Corning Incorporated (NYSE:GLW) was down 2.8% during mid-day trading on Friday . The stock traded as low as $83.33 and last traded at $85.4020. Approximately 7,268,517 shares changed hands during trading, an increase of 16% from the average daily volume of 6,268,104 shares. The stock had previously closed at $87.86.

Analyst Ratings Changes

Several analysts have recently commented on the company. Susquehanna raised their price target on Corning from $75.00 to $100.00 and gave the company a “positive” rating in a report on Wednesday, October 29th. Mizuho set a $97.00 price objective on Corning in a research report on Wednesday, October 29th. Argus boosted their target price on shares of Corning from $68.00 to $110.00 and gave the stock a “buy” rating in a research report on Wednesday, October 29th. Morgan Stanley set a $82.00 price target on shares of Corning in a research note on Wednesday, October 29th. Finally, Oppenheimer set a $100.00 price target on shares of Corning and gave the company an “outperform” rating in a report on Wednesday, October 29th. One investment analyst has rated the stock with a Strong Buy rating, eleven have issued a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $90.82.

Corning Price Performance

The company has a market cap of $73.22 billion, a price-to-earnings ratio of 54.05, a price-to-earnings-growth ratio of 1.99 and a beta of 1.15. The company has a fifty day simple moving average of $81.68 and a two-hundred day simple moving average of $63.57. The company has a quick ratio of 0.93, a current ratio of 1.56 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, October 28th. The electronics maker reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.66 by $0.01. The business had revenue of $4.27 billion during the quarter, compared to the consensus estimate of $4.24 billion. Corning had a return on equity of 18.12% and a net margin of 9.16%.The business’s revenue was up 20.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.54 EPS. Corning has set its Q4 2025 guidance at 0.680-0.72 EPS. On average, equities research analysts anticipate that Corning Incorporated will post 2.33 earnings per share for the current fiscal year.

Corning Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 12th. Shareholders of record on Friday, November 14th will be issued a $0.28 dividend. This represents a $1.12 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, November 14th. Corning’s dividend payout ratio is 70.89%.

Insider Buying and Selling at Corning

In related news, SVP Stefan Becker sold 12,100 shares of Corning stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $91.28, for a total transaction of $1,104,488.00. Following the completion of the transaction, the senior vice president directly owned 5,049 shares in the company, valued at $460,872.72. The trade was a 70.56% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, EVP Lewis A. Steverson sold 23,142 shares of the stock in a transaction on Friday, October 31st. The shares were sold at an average price of $89.05, for a total value of $2,060,795.10. Following the sale, the executive vice president owned 17,575 shares in the company, valued at approximately $1,565,053.75. This trade represents a 56.84% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 173,856 shares of company stock worth $15,456,476. 0.40% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GLW. Brighton Jones LLC grew 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 worth $319,000 after buying an additional 2,114 shares in the last quarter. Envestnet Asset Management Inc. boosted its position in Corning by 15.6% during the first quarter. Envestnet Asset Management Inc. now owns 1,284,083 shares of the electronics maker’s stock worth $58,785,000 after acquiring an additional 172,821 shares during the last quarter. Greenleaf Trust grew its stake in Corning by 6.4% in the 1st quarter. Greenleaf Trust now owns 10,299 shares of the electronics maker’s stock worth $471,000 after acquiring an additional 617 shares during the period. Leavell Investment Management Inc. grew its stake in Corning by 10.2% in the 1st quarter. Leavell Investment Management Inc. now owns 12,880 shares of the electronics maker’s stock worth $590,000 after acquiring an additional 1,191 shares during the period. Finally, Cerity Partners LLC raised its holdings in Corning by 1.2% in the 1st quarter. Cerity Partners LLC now owns 528,368 shares of the electronics maker’s stock valued at $24,189,000 after acquiring an additional 6,439 shares during the last quarter. Institutional investors and hedge funds own 69.80% of the company’s stock.

Corning Company Profile

Corning Incorporated engages in the display technologies, optical communications, environmental technologies, specialty materials, and life sciences businesses in the United States and internationally. The company's Display Technologies segment offers glass substrates for flat panel displays, including liquid crystal displays and organic light-emitting diodes that are used in televisions, notebook computers, desktop monitors, tablets, and handheld devices.