Corning (NYSE:GLW) Stock Price Up 4.1% – Still a Buy?

Corning Incorporated (NYSE:GLW)’s stock price rose 4.1% during trading on Monday . The company traded as high as $190.00 and last traded at $186.5410. Approximately 8,886,544 shares traded hands during mid-day trading, a decline of 26% from the average daily volume of 12,067,981 shares. The stock had previously closed at $179.20.

Wall Street Analysts Forecast Growth

GLW has been the subject of a number of analyst reports. Bank of America increased their price target on shares of Corning from $155.00 to $186.00 and gave the company a “buy” rating in a report on Monday, April 20th. UBS Group increased their price target on shares of Corning from $223.00 to $228.00 and gave the company a “buy” rating in a report on Friday, June 5th. Barclays raised their price objective on shares of Corning from $149.00 to $180.00 and gave the stock an “equal weight” rating in a research note on Friday, May 8th. Mizuho raised their price objective on shares of Corning from $190.00 to $220.00 and gave the stock an “outperform” rating in a research note on Tuesday, May 12th. Finally, Morgan Stanley set a $180.00 price objective on shares of Corning in a research note on Friday, May 8th. Ten equities research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company. According to data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus target price of $178.31.

Corning Trading Up 4.1%

The company has a quick ratio of 1.06, a current ratio of 1.61 and a debt-to-equity ratio of 0.62. The firm has a market cap of $160.54 billion, a P/E ratio of 89.25, a P/E/G ratio of 2.56 and a beta of 1.15. The company’s 50 day simple moving average is $177.15 and its 200-day simple moving average is $134.03.

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

Corning Dividend Announcement

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

Insider Buying and Selling at Corning

In other news, SVP Michaune D. Tillman sold 3,260 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total transaction of $674,885.20. Following the transaction, the senior vice president directly owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. This trade represents a 24.27% 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. Also, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president directly owned 5,138 shares in the company, valued at approximately $1,019,070.92. This trade represents a 66.06% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 160,655 shares of company stock valued at $30,692,561. 0.25% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Corning

A number of institutional investors have recently modified their holdings of the stock. Wealthquest Corp purchased a new position in shares of Corning during the first quarter worth approximately $250,000. DV Trading LLC increased its position in shares of Corning by 89.1% during the first quarter. DV Trading LLC now owns 1,891 shares of the electronics maker’s stock worth $257,000 after acquiring an additional 891 shares during the period. Parallel Advisors LLC increased its position in shares of Corning by 6.5% during the first quarter. Parallel Advisors LLC now owns 22,209 shares of the electronics maker’s stock worth $3,020,000 after acquiring an additional 1,354 shares during the period. First Nebraska Trust Co purchased a new position in shares of Corning during the first quarter worth approximately $926,000. Finally, Keel Point LLC purchased a new position in shares of Corning during the first quarter worth approximately $244,000. 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.