Shares of Corning Incorporated (NYSE:GLW – Get Free Report) were down 5.2% during mid-day trading on Wednesday . The stock traded as low as $153.88 and last traded at $154.01. 9,889,031 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 12,787,162 shares. The stock had previously closed at $162.41.
Analyst Ratings Changes
A number of brokerages recently commented on GLW. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Weiss Ratings reissued a “buy (b-)” rating on shares of Corning in a research report on Friday, May 15th. Mizuho raised their price objective on shares of Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded shares of Corning from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Bank of America upped their target price on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a research note on Monday, July 6th. Ten equities research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $194.69.
View Our Latest Analysis on Corning
Corning Trading Down 5.2%
Corning (NYSE:GLW – Get Free Report) last posted its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.01. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. During the same quarter last year, the company earned $0.54 EPS. Corning’s revenue for the quarter was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Analysts anticipate that Corning Incorporated will post 3.18 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 paid a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 dividend on an annualized basis and a yield of 0.7%. Corning’s payout ratio is currently 53.59%.
Insider Activity at Corning
In other news, VP John Z. Zhang sold 10,000 shares of Corning stock in a transaction on Monday, May 11th. The shares were sold at an average price of $198.34, for a total transaction of $1,983,400.00. Following the completion of the sale, the vice president directly owned 5,138 shares of the company’s stock, valued at approximately $1,019,070.92. The trade was a 66.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Jaymin Amin sold 27,395 shares of the business’s stock in a transaction on Friday, May 22nd. The stock was sold at an average price of $192.14, for a total transaction of $5,263,675.30. Following the transaction, the senior vice president owned 94,400 shares of the company’s stock, valued at approximately $18,138,016. The trade was a 22.49% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 160,655 shares of company stock worth $30,692,560 over the last ninety days. 0.25% of the stock is currently owned by insiders.
Institutional Trading of Corning
Institutional investors have recently bought and sold shares of the business. Norges Bank acquired a new position in Corning in the fourth quarter valued at approximately $921,435,000. Capital Research Global Investors raised its holdings in Corning by 52.7% during the fourth 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 in the last quarter. Polar Capital Holdings Plc lifted its position in shares of Corning by 141.2% during the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after buying an additional 2,348,125 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in shares of Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after buying an additional 2,304,676 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. acquired a new position in shares of Corning in the 4th quarter valued at $185,312,000. 69.80% of the stock is 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.
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