Corning (NYSE:GLW) VP Sells $1,983,400.00 in Stock

Corning Incorporated (NYSE:GLW) VP John 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 value of $1,983,400.00. Following the completion of the sale, the vice president 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

Corning Price Performance

Shares of GLW stock opened at $208.07 on Friday. The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. Corning Incorporated has a 12 month low of $46.83 and a 12 month high of $211.79. The firm has a market cap of $179.07 billion, a price-to-earnings ratio of 99.55, a PEG ratio of 2.96 and a beta of 1.14. The stock has a 50-day moving average price of $155.27 and a 200 day moving average price of $119.17.

Corning (NYSE:GLW) last issued its earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. During the same quarter last year, the business earned $0.54 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Research analysts expect that Corning Incorporated will post 3.19 EPS for the current year.

Corning Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 29th. Shareholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. The ex-dividend date is Friday, May 29th. This represents a $1.12 dividend on an annualized basis and a yield of 0.5%. Corning’s dividend payout ratio (DPR) is 53.59%.

Institutional Investors Weigh In On Corning

A number of hedge funds and other institutional investors have recently bought and sold shares of GLW. Brighton Jones LLC raised its position in Corning by 46.0% in the 4th quarter. Brighton Jones LLC now owns 6,705 shares of the electronics maker’s stock valued at $319,000 after buying an additional 2,114 shares during the last quarter. Retirement Planning Co of New England Inc. acquired a new stake in Corning in the 1st quarter valued at approximately $729,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Corning by 9.3% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 64,704 shares of the electronics maker’s stock valued at $2,962,000 after buying an additional 5,522 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Corning in the 2nd quarter valued at approximately $401,000. Finally, Schnieders Capital Management LLC. acquired a new stake in Corning in the 2nd quarter valued at approximately $266,000. Institutional investors and hedge funds own 69.80% of the company’s stock.

Wall Street Analyst Weigh In

GLW has been the topic of a number of recent analyst reports. Citigroup raised their target price on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a report on Thursday, May 7th. Wall Street Zen cut Corning from a “buy” rating to a “hold” rating in a report on Saturday, May 9th. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Morgan Stanley set a $180.00 target price on Corning in a report on Friday, May 8th. Finally, HSBC restated a “buy” rating and set a $135.00 target price on shares of Corning in a report on Friday, February 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating and five have given a Hold rating to the company. According to MarketBeat, Corning presently has an average rating of “Moderate Buy” and a consensus price target of $177.92.

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.