Corning (NYSE:GLW) Shares Down 13.1% – Here’s Why

Posted by Geri Gentry on Nov 7th, 2026

Corning Incorporated (NYSE:GLW – Get Free Report) shares were down 13.1% on Thursday. The company traded as low as $101.83 and last traded at $103.2040. 21,375,392 shares changed hands during mid-day trading, an increase of 79% from the average daily volume of 11,916,482 shares. The stock had previously closed at $118.77.

Analysts Set New Price Targets

GLW has been the subject of a number of analyst reports. Citigroup reiterated a “buy” rating on shares of Corning in a research note on Tuesday, October 27th. Zacks Research raised Corning from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, October 28th. China Renaissance raised Corning from a “hold” rating to a “buy” rating and set a $238.00 price objective for the company in a research note on Tuesday, September 8th. Mizuho dropped their target price on Corning from $210.00 to $180.00 and set an “outperform” rating on the stock in a report on Tuesday, September 15th. Finally, Bank of America cut their target price on Corning from $243.00 to $200.00 and set a “buy” rating on the stock in a research report on Wednesday, July 29th. One analyst has rated the stock with a Strong Buy rating, fourteen have issued a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $175.81.

Read Our Latest Report on GLW

Corning Stock Performance

The company has a debt-to-equity ratio of 0.51, a current ratio of 1.72 and a quick ratio of 1.17. The company’s fifty day moving average price is $144.47 and its 200 day moving average price is $155.55. The company has a market cap of $91.34 billion, a PE ratio of 42.93, a P/E/G ratio of 1.52 and a beta of 1.23.

Corning (NYSE:GLW – Get Free Report) last released its quarterly earnings results on Tuesday, October 27th. The electronics maker reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.88 by $0.03. Corning had a net margin of 12.13% and a return on equity of 20.83%. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $5.03 billion. During the same period in the previous year, the company earned $0.67 earnings per share. The firm’s revenue for the quarter was up 18.9% compared to the same quarter last year. On average, equities research analysts predict that Corning Incorporated will post 3.38 earnings per share for the current year.

Corning Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 13th will be paid a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date is Friday, November 13th. Corning’s payout ratio is presently 45.34%.

Insider Activity

In related news, EVP Lewis Steverson sold 13,100 shares of the stock in a transaction that occurred on 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 completion of the sale, the executive vice president directly owned 15,052 shares of the company’s stock, valued at approximately $2,277,217.08. This trade represents a 46.53% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.25% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of GLW. Bank of New York Mellon Corp bought a new stake in shares of Corning during the 2nd quarter worth $1,510,911,000. State Street Corp increased its holdings in Corning by 13.4% during the second quarter. State Street Corp now owns 41,108,384 shares of the electronics maker’s stock worth $10,500,315,000 after buying an additional 4,845,027 shares during the last quarter. Legal & General Group Plc purchased a new stake in Corning during the second quarter worth about $1,212,283,000. Wellington Management Group LLP raised its position in Corning by 50.9% in the second quarter. Wellington Management Group LLP now owns 13,174,194 shares of the electronics maker’s stock worth $3,365,084,000 after acquiring an additional 4,446,514 shares during the period. Finally, Bank of America Corp DE raised its position in Corning by 29.2% in the second 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. Hedge funds and other institutional investors own 69.80% of the company’s stock.

Corning Company Profile

(Get Free Report)

Corning Incorporated is a materials science and technology company with roots dating to 1851, when it was established as Corning Glass Works. The company develops and manufactures specialty glass, ceramics and optical materials for customers in a range of industries.

Its products include optical fiber, cable and connectivity solutions for communications networks; glass substrates used in display technologies; and specialty glass such as Gorilla Glass for consumer electronics. Corning also makes ceramic substrates and filters for emissions-control systems, as well as glassware and other products for life sciences and laboratory use.

Headquartered in Corning, New York, the company serves customers worldwide through operations and sales across multiple geographies.