Corning (NYSE:GLW) Shares Up 5.4% – What’s Next?

Shares of Corning Incorporated (NYSE:GLW) traded up 5.4% on Friday . The stock traded as high as $170.43 and last traded at $165.6470. Approximately 10,691,532 shares changed hands during mid-day trading, a decline of 18% from the average session volume of 13,102,724 shares. The stock had previously closed at $157.18.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Citigroup dropped their price objective on Corning from $240.00 to $220.00 and set a “buy” rating for the company in a research note on Wednesday, July 29th. UBS Group reiterated a “buy” rating and set a $196.00 price target on shares of Corning in a report on Wednesday, July 29th. Barclays dropped their price target on shares of Corning from $180.00 to $129.00 and set an “equal weight” rating for the company in a research report on Wednesday, July 29th. Susquehanna raised their price target on shares of Corning from $125.00 to $180.00 and gave the stock a “positive” rating in a report on Wednesday, April 29th. Finally, Weiss Ratings cut shares of Corning from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Friday, July 24th. Ten research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $174.08.

Corning Trading Up 5.4%

The company has a debt-to-equity ratio of 0.59, a quick ratio of 1.24 and a current ratio of 1.81. The stock has a market capitalization of $142.69 billion, a P/E ratio of 75.64, a price-to-earnings-growth ratio of 2.01 and a beta of 1.14. The stock has a 50-day moving average price of $180.04 and a two-hundred day moving average price of $159.02.

Corning (NYSE:GLW) last announced its earnings results on Tuesday, July 28th. The electronics maker reported $0.78 EPS for the quarter, beating analysts’ consensus estimates of $0.76 by $0.02. Corning had a return on equity of 20.09% and a net margin of 11.20%.The company had revenue of $4.74 billion during the quarter, compared to the consensus estimate of $4.63 billion. During the same quarter in the prior year, the company earned $0.60 earnings per share. The firm’s revenue for the quarter was up 17.1% on a year-over-year basis. Corning has set its Q3 2026 guidance at 0.850-0.890 EPS. On average, research analysts forecast that Corning Incorporated will post 3.27 EPS for the current fiscal year.

Corning Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 29th. Shareholders of record on Monday, August 31st will be issued a $0.28 dividend. The ex-dividend date is Monday, August 31st. This represents a $1.12 annualized dividend and a yield of 0.7%. Corning’s dividend payout ratio is 51.14%.

Insider Transactions at Corning

In other news, 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 completion of the sale, the vice president directly 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 position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Soumya Seetharam sold 20,000 shares of the business’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $206.23, for a total transaction of $4,124,600.00. Following the transaction, the senior vice president owned 25,570 shares in the company, valued at $5,273,301.10. This represents a 43.89% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 160,655 shares of company stock worth $30,692,560. 0.25% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Merit Financial Group LLC grew its holdings in shares of Corning by 16.9% during the fourth quarter. Merit Financial Group LLC now owns 45,001 shares of the electronics maker’s stock valued at $3,940,000 after buying an additional 6,493 shares during the last quarter. Security National Bank raised its holdings in Corning by 340.4% in the 4th quarter. Security National Bank now owns 72,523 shares of the electronics maker’s stock worth $6,350,000 after acquiring an additional 56,056 shares during the last quarter. Wealthfront Advisers LLC raised its holdings in Corning by 36.2% in the 1st quarter. Wealthfront Advisers LLC now owns 92,425 shares of the electronics maker’s stock worth $12,567,000 after acquiring an additional 24,589 shares during the last quarter. Principal Financial Group Inc. lifted its position in Corning by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 893,451 shares of the electronics maker’s stock valued at $121,483,000 after acquiring an additional 10,591 shares in the last quarter. Finally, RiverFront Investment Group LLC lifted its position in Corning by 65.4% in the 4th quarter. RiverFront Investment Group LLC now owns 14,718 shares of the electronics maker’s stock valued at $1,289,000 after acquiring an additional 5,818 shares in the last quarter. 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.