Corning (NYSE:GLW) Trading Up 1.3% – What’s Next?

Shares of Corning Incorporated (NYSE:GLW) shot up 1.3% during mid-day trading on Tuesday . The company traded as high as $199.93 and last traded at $196.64. 8,800,427 shares were traded during trading, a decline of 27% from the average session volume of 12,020,142 shares. The stock had previously closed at $194.05.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. Barclays raised their price target on Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a report on Friday, May 8th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a report on Sunday, May 17th. Citigroup raised their target price on Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research note on Thursday, May 7th. Susquehanna upped their price target on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a research report on Wednesday, April 29th. Finally, Fox Advisors downgraded shares of Corning from an “overweight” rating to an “equal weight” rating in a report on Thursday, January 29th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating and five have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Corning presently has a consensus rating of “Moderate Buy” and an average price target of $177.92.

Corning Stock Up 1.3%

The company has a 50 day moving average of $162.85 and a 200-day moving average of $124.03. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06. The company has a market cap of $169.24 billion, a P/E ratio of 94.09, a price-to-earnings-growth ratio of 2.78 and a beta of 1.14.

Corning (NYSE:GLW) last released its quarterly earnings results on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share for the quarter, beating the consensus estimate of $0.69 by $0.01. The firm had revenue of $4.35 billion for the quarter, compared to analysts’ expectations of $4.30 billion. Corning had a return on equity of 19.45% and a net margin of 11.09%.The company’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.54 EPS. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. On average, equities analysts predict that Corning Incorporated will post 3.19 earnings per share for the current year.

Corning Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, June 29th. Stockholders of record on Friday, May 29th will be issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.6%. The ex-dividend date of this dividend is Friday, May 29th. Corning’s payout ratio is currently 53.59%.

Insider Buying and Selling

In related news, SVP Michaune D. Tillman sold 3,260 shares of the stock in a transaction on Monday, May 11th. The stock was sold at an average price of $207.02, for a total value of $674,885.20. Following the transaction, the senior vice president owned 10,174 shares of the company’s stock, valued at $2,106,221.48. This represents a 24.27% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $198.34, for a total value of $1,983,400.00. Following the sale, the vice president owned 5,138 shares in the company, valued at $1,019,070.92. The trade was a 66.06% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 198,169 shares of company stock valued at $33,412,111 in the last three months. 0.25% of the stock is owned by corporate insiders.

Institutional Trading of Corning

Hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Research Global Investors bought a new position in Corning during the third quarter valued at approximately $907,164,000. Norges Bank bought a new stake in shares of Corning in the 4th quarter worth approximately $921,435,000. WCM Investment Management LLC purchased a new stake in shares of Corning in the 3rd quarter valued at $676,931,000. Wellington Management Group LLP grew its holdings in shares of Corning by 30.3% during the 3rd quarter. Wellington Management Group LLP now owns 16,557,489 shares of the electronics maker’s stock valued at $1,358,211,000 after purchasing an additional 3,848,540 shares during the last quarter. Finally, Polar Capital Holdings Plc raised its position in Corning by 141.2% in the 3rd quarter. Polar Capital Holdings Plc now owns 4,011,153 shares of the electronics maker’s stock worth $329,035,000 after purchasing an additional 2,348,125 shares during the period. Hedge funds and other institutional investors own 69.80% of the company’s stock.

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.