Corning (NYSE:GLW) Shares Down 2.5% – Time to Sell?

Corning Incorporated (NYSE:GLW)’s share price dropped 2.5% on Friday . The company traded as low as $146.94 and last traded at $154.4710. Approximately 14,195,205 shares were traded during trading, an increase of 10% from the average session volume of 12,873,261 shares. The stock had previously closed at $158.39.

Wall Street Analyst Weigh In

GLW has been the subject of several recent analyst reports. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of Corning in a research note on Friday, May 15th. Morgan Stanley set a $180.00 price objective on shares of Corning in a research report on Friday, May 8th. Truist Financial increased their target price on shares of Corning from $149.00 to $205.00 and gave the stock a “hold” rating in a research note on Monday, June 22nd. Bank of America raised their price target on shares of Corning from $223.00 to $243.00 and gave the stock a “buy” rating in a report on Monday, July 6th. Finally, Barclays lifted their price target on shares of Corning from $149.00 to $180.00 and gave the company an “equal weight” rating in a research note on Friday, May 8th. Ten 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 an average target price of $194.69.

Corning Trading Down 2.5%

The firm has a market cap of $132.94 billion, a price-to-earnings ratio of 73.91, a P/E/G ratio of 2.03 and a beta of 1.09. The firm’s 50-day moving average is $192.81 and its 200-day moving average is $152.85. The company has a current ratio of 1.61, a quick ratio of 1.06 and a debt-to-equity ratio of 0.62.

Corning (NYSE:GLW) last released 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. The firm had revenue of $4.34 billion for the quarter, compared to analyst estimates of $4.30 billion. Corning had a net margin of 11.09% and a return on equity of 19.45%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same period 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, sell-side analysts anticipate that Corning Incorporated will post 3.18 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 29th. Stockholders of record on Monday, August 31st will be issued a $0.28 dividend. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Monday, August 31st. Corning’s dividend payout ratio (DPR) is currently 53.59%.

Insider Buying and Selling at Corning

In other Corning news, CEO Wendell P. Weeks sold 100,000 shares of Corning stock in a transaction on Tuesday, June 9th. The shares were sold at an average price of $186.46, for a total transaction of $18,646,000.00. Following the transaction, the chief executive officer directly owned 908,353 shares of the company’s stock, valued at $169,371,500.38. The trade was a 9.92% decrease in their position. 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 company’s stock in a transaction 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 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 position. 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

A number of institutional investors have recently added to or reduced their stakes in the company. Norges Bank bought a new stake in Corning in the fourth quarter worth about $921,435,000. Capital Research Global Investors grew its position in shares of Corning by 52.7% during the 4th quarter. Capital Research Global Investors now owns 16,890,802 shares of the electronics maker’s stock valued at $1,478,959,000 after acquiring an additional 5,831,873 shares during the period. Polar Capital Holdings Plc increased its stake in shares of Corning by 141.2% during 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 last quarter. Arrowstreet Capital Limited Partnership increased its stake in shares of Corning by 102.1% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 4,562,644 shares of the electronics maker’s stock worth $399,505,000 after purchasing an additional 2,304,676 shares during the last quarter. Finally, Evergreen Quality Fund GP Ltd. bought a new stake in shares of Corning in the 4th quarter worth approximately $185,312,000. 69.80% of the stock is owned by institutional investors.

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.