Corning (NYSE:GLW) Trading 6.1% Higher – Here’s Why

Corning Incorporated (NYSE:GLW) traded up 6.1% during mid-day trading on Tuesday . The company traded as high as $164.50 and last traded at $162.44. 10,045,138 shares traded hands during trading, a decline of 22% from the average session volume of 12,804,896 shares. The stock had previously closed at $153.10.

Analyst Ratings Changes

A number of research firms have issued reports on GLW. Citigroup lifted their price target on Corning from $225.00 to $240.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Wall Street Zen raised Corning from a “hold” rating to a “buy” rating in a research note on Saturday, July 18th. Susquehanna raised their target price on Corning from $125.00 to $180.00 and gave the company a “positive” rating in a report on Wednesday, April 29th. Truist Financial raised their target price on Corning from $149.00 to $205.00 and gave the company a “hold” rating in a report on Monday, June 22nd. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of Corning in a report on Friday, May 15th. Ten research analysts have rated the stock with a Buy rating and six have issued a Hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $194.69.

Corning Stock Down 5.2%

The stock has a 50 day moving average price of $189.96 and a 200 day moving average price of $154.74. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.06 and a current ratio of 1.61. The company has a market capitalization of $132.55 billion, a P/E ratio of 73.69, a PEG ratio of 2.14 and a beta of 1.09.

Corning (NYSE:GLW) last posted 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 company had revenue of $4.34 billion during 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 firm’s revenue for the quarter was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.54 earnings per share. Corning has set its Q2 2026 guidance at 0.730-0.770 EPS. Equities research analysts forecast that Corning Incorporated will post 3.18 earnings per share 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 given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date of this dividend is Monday, August 31st. Corning’s dividend payout ratio is currently 53.59%.

Insider Activity at Corning

In related news, SVP Michaune D. Tillman sold 3,260 shares of Corning stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $207.02, for a total value of $674,885.20. Following the sale, the senior vice president owned 10,174 shares of the company’s stock, valued at approximately $2,106,221.48. The trade was a 24.27% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP John Z. Zhang sold 10,000 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the vice president owned 5,138 shares in the company, valued at approximately $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 have sold a total of 160,655 shares of company stock worth $30,692,560 over the last 90 days. Corporate insiders own 0.25% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. Alliance Wealth Advisors LLC grew its holdings in shares of Corning by 1.4% in the second quarter. Alliance Wealth Advisors LLC now owns 4,045 shares of the electronics maker’s stock worth $1,033,000 after purchasing an additional 56 shares during the last quarter. Ares Financial Consulting LLC boosted its position in Corning by 15.6% in the 2nd quarter. Ares Financial Consulting LLC now owns 444 shares of the electronics maker’s stock valued at $113,000 after buying an additional 60 shares during the period. Signature Equity Partners LLC grew its stake in Corning by 19.3% in the 1st quarter. Signature Equity Partners LLC now owns 383 shares of the electronics maker’s stock worth $52,000 after acquiring an additional 62 shares in the last quarter. Beirne Wealth Consulting Services LLC raised its stake in shares of Corning by 0.8% during the first quarter. Beirne Wealth Consulting Services LLC now owns 8,045 shares of the electronics maker’s stock valued at $1,094,000 after acquiring an additional 64 shares in the last quarter. Finally, Balefire LLC boosted its holdings in shares of Corning by 0.7% in the first quarter. Balefire LLC now owns 9,595 shares of the electronics maker’s stock valued at $1,305,000 after purchasing an additional 65 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.