Corning Incorporated (NYSE:GLW – Get Free Report) EVP Lewis Steverson sold 13,100 shares of the business’s stock in a transaction dated Friday, August 28th. The stock was sold at an average price of $151.29, for a total transaction of $1,981,899.00. Following the transaction, the executive vice president owned 15,052 shares in the company, valued at $2,277,217.08. The trade was a 46.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Corning Stock Down 0.2%
GLW stock opened at $148.75 on Tuesday. The company has a market cap of $128.13 billion, a price-to-earnings ratio of 67.92, a PEG ratio of 1.91 and a beta of 1.14. The company has a current ratio of 1.81, a quick ratio of 1.24 and a debt-to-equity ratio of 0.59. Corning Incorporated has a 12 month low of $66.14 and a 12 month high of $271.78. The firm has a 50-day moving average of $169.96 and a two-hundred day moving average of $164.98.
Corning (NYSE:GLW – Get Free Report) last issued its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 earnings per share for the quarter, topping the consensus estimate of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The business had revenue of $4.74 billion for the quarter, compared to analysts’ expectations of $4.63 billion. During the same period in the previous year, the firm posted $0.60 EPS. The business’s revenue for the quarter was up 17.1% compared to the same quarter last year. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. As a group, analysts forecast that Corning Incorporated will post 3.27 earnings per share for the current fiscal year.
Corning Announces Dividend
Wall Street Analysts Forecast Growth
GLW has been the topic of several recent research reports. Weiss Ratings cut shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, August 21st. Citigroup cut their price objective on shares of Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research report on Wednesday, July 29th. UBS Group reaffirmed a “buy” rating and set a $196.00 target price on shares of Corning in a research note on Wednesday, July 29th. Mizuho decreased their target price on shares of Corning from $270.00 to $210.00 and set an “outperform” rating on the stock in a report on Wednesday, July 29th. Finally, Bank of America increased their price target on shares of Corning from $223.00 to $243.00 and gave the company a “buy” rating in a research note on Monday, July 6th. Ten investment analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $174.08.
View Our Latest Stock Analysis on Corning
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently bought and sold shares of the stock. California State Teachers Retirement System boosted its stake in shares of Corning by 26,791.0% in the 2nd quarter. California State Teachers Retirement System now owns 308,768,637 shares of the electronics maker’s stock valued at $78,868,773,000 after buying an additional 307,620,415 shares during the period. State Street Corp raised its position in Corning by 1.2% in the 3rd quarter. State Street Corp now owns 37,008,856 shares of the electronics maker’s stock valued at $3,035,836,000 after purchasing an additional 439,883 shares during the last quarter. Geode Capital Management LLC raised its stake in Corning by 2.6% during the 4th quarter. Geode Capital Management LLC now owns 20,411,824 shares of the electronics maker’s stock valued at $1,781,250,000 after acquiring an additional 517,067 shares during the last quarter. Bank of America Corp DE lifted its stake in shares of 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 worth $4,784,361,000 after acquiring an additional 4,231,507 shares during the period. Finally, Capital Research Global Investors increased its position 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 worth $1,478,959,000 after purchasing an additional 5,831,873 shares during the period. 69.80% of the stock is currently owned by hedge funds and other 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.
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