Corning (NYSE:GLW) Hits New 1-Year High – Here’s What Happened

Shares of Corning Incorporated (NYSE:GLW) reached a new 52-week high during trading on Monday . The stock traded as high as $241.52 and last traded at $240.8180, with a volume of 7891427 shares changing hands. The stock had previously closed at $221.05.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GLW shares. Citigroup raised their price objective on shares of Corning from $175.00 to $225.00 and gave the stock a “buy” rating in a research report on Thursday, May 7th. Morgan Stanley set a $180.00 target price on shares of Corning in a report on Friday, May 8th. Bank of America increased their target price on shares of Corning from $155.00 to $186.00 and gave the stock a “buy” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. raised their price target on Corning from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Thursday, May 7th. Finally, Mizuho boosted their price target on Corning from $220.00 to $270.00 and gave the company an “outperform” rating in a research report on Wednesday. Ten research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Corning has a consensus rating of “Moderate Buy” and a consensus price target of $186.46.

Corning Trading Down 0.2%

The firm has a market capitalization of $219.71 billion, a price-to-earnings ratio of 122.15, a price-to-earnings-growth ratio of 3.66 and a beta of 1.15. The business’s 50 day moving average price is $188.32 and its 200-day moving average price is $144.39. The company has a debt-to-equity ratio of 0.62, a current ratio of 1.61 and a quick ratio of 1.06.

Corning (NYSE:GLW) last announced its quarterly earnings data on Tuesday, April 28th. The electronics maker reported $0.70 earnings per share 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 in the previous year, the company earned $0.54 EPS. The firm’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. Equities analysts forecast that Corning Incorporated will post 3.19 EPS for the current fiscal year.

Corning Announces Dividend

The firm 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 dividend yield of 0.4%. Corning’s payout ratio is 53.59%.

Insider Transactions at Corning

In other Corning news, VP John Z. Zhang sold 10,000 shares of the firm’s stock in a transaction on 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. This trade represents a 66.06% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Michaune D. Tillman sold 3,260 shares of the company’s stock in a transaction on Monday, May 11th. The stock was 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 in the company, valued at approximately $2,106,221.48. This trade represents a 24.27% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 160,655 shares of company stock valued at $30,692,560 in the last three months. Insiders own 0.25% of the company’s stock.

Institutional Investors Weigh In On Corning

Hedge funds and other institutional investors have recently modified their holdings of the stock. Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in Corning during the third quarter worth $25,000. Berbice Capital Management LLC purchased a new position in shares of Corning in the fourth quarter valued at $26,000. Basepoint Wealth LLC acquired a new position in shares of Corning during the 4th quarter worth $26,000. Kemnay Advisory Services Inc. acquired a new position in shares of Corning during the 4th quarter worth $27,000. Finally, Litman Gregory Wealth Management LLC purchased a new stake in shares of Corning in the 4th quarter worth about $31,000. 69.80% of the stock is currently owned by institutional investors and hedge funds.

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.