Shares of Corning Incorporated (NYSE:GLW – Get Free Report) were up 15.7% on Monday . The company traded as high as $258.80 and last traded at $255.79. Approximately 24,085,469 shares changed hands during mid-day trading, an increase of 88% from the average session volume of 12,806,866 shares. The stock had previously closed at $221.05.
Wall Street Analyst Weigh In
Several analysts have commented on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Thursday, May 7th. Barclays lifted their target price on Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a report on Friday, May 8th. Mizuho upped their price target on shares of Corning from $220.00 to $270.00 and gave the stock an “outperform” rating in a report on Wednesday. Morgan Stanley set a $180.00 target price on shares of Corning in a research note on Friday, May 8th. Finally, Bank of America boosted their target price on Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research 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. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $186.46.
Read Our Latest Analysis on GLW
Corning Stock Down 13.6%
Corning (NYSE:GLW – Get Free Report) last announced its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.01. The company had revenue of $4.34 billion during the quarter, compared to analyst estimates of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The firm’s revenue was up 18.1% on a year-over-year basis. During the same quarter last year, the firm posted $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. As a group, equities analysts anticipate that Corning Incorporated will post 3.19 EPS for the current year.
Corning Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 29th. Investors of record on Monday, August 31st will be given a dividend of $0.28 per share. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a dividend yield of 0.5%. Corning’s payout ratio is currently 53.59%.
Insider Transactions at Corning
In other news, SVP Jaymin Amin sold 27,395 shares of Corning stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $192.14, for a total value of $5,263,675.30. Following the completion of the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at $18,138,016. The trade was a 22.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the transaction, the vice president directly owned 5,138 shares of the company’s stock, valued at $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several hedge funds have recently modified their holdings of GLW. Pinpoint Asset Management Singapore Pte. Ltd. bought a new position in shares of Corning during the 3rd quarter valued at $25,000. Berbice Capital Management LLC purchased a new position in shares of Corning in the fourth quarter worth approximately $26,000. Basepoint Wealth LLC bought a new stake in Corning during the fourth quarter valued at approximately $26,000. Kemnay Advisory Services Inc. bought a new position in Corning in the fourth quarter worth approximately $27,000. Finally, Litman Gregory Wealth Management LLC bought a new position in Corning in the fourth quarter worth approximately $31,000. Hedge funds and other institutional investors own 69.80% of the company’s stock.
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.
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